Revocable living trusts provide flexibility during life and a streamlined path for your estate after death. They help maintain privacy, reduce court involvement, and simplify ongoing management if your family circumstances evolve. With professional guidance, you can coordinate trusts with wills, powers of attorney, and healthcare directives for a cohesive plan.
Aligning all legal documents prevents contradictions and promotes clarity for executors, trustees, and beneficiaries during critical moments.
Choosing our firm means working with attorneys who listen, explain options clearly, and deliver thoughtful plans designed for North Carolina residents.
Regular check-ins ensure your plan adapts to life events and changing laws.
A revocable living trust is a flexible estate planning tool that you can modify or revoke during your lifetime. It allows you to place assets into a trust that you control, with instructions for how they pass to heirs after death. The trust can remain private and avoid probate for assets held within it.
Probate avoidance occurs because assets held in the trust do not pass through probate when the grantor dies; assets transfer directly to beneficiaries per the terms of the trust. Coordination with other documents helps ensure comprehensive coverage across all holdings.
Wills provide post-death instructions for assets not placed in a trust and typically become part of the public record through probate. A revocable living trust manages assets during life and after death, offering privacy, efficiency, and adaptability when plans change.
Yes, many people serve as trustee of their own revocable living trust, retaining control while alive. A successor trustee then administers the trust after death or incapacity to ensure orderly management and distribution.
Funding a trust involves retitling real estate, bank accounts, and investment accounts into the name of the trust. You should review deeds, beneficiary designations, and transitions with your attorney to avoid gaps that could undermine the plan.
After the grantor passes away, the successor trustee administers the trust according to its terms, distributing assets to beneficiaries and handling debts and taxes. The process is designed to be efficient, private, and aligned with the grantor’s wishes.
Revocable living trusts do not eliminate estate taxes by themselves, but they can integrate with other planning tools to minimize tax exposure in some situations. Tax outcomes depend on the overall estate size, exemptions, and asset titling.
Costs vary based on complexity, assets, and local rates. Some firms charge a flat fee for a basic revocable living trust package, plus separate fees for funding and updates. We provide clear estimates and discuss potential ongoing costs.
Setting up a revocable living trust typically takes several weeks, depending on asset complexity and the speed of document review and funding. An initial consultation can accelerate the timeline and help align expectations.
Yes. A revocable living trust can be amended or revoked at any time while you are mentally competent. Changes should be documented properly, with updates filed to ensure the trust remains aligned with your goals.
