Revocable living trusts provide a central mechanism to manage assets during life, while avoiding public probate after death. They offer privacy, the ability to name a trusted successor, and the option to modify terms as family circumstances change. Proper funding and clear instructions help ensure a smooth transfer.
Coordinating trusts, wills, and durable powers of attorney in a single plan helps ensure that asset transfers occur as intended and that decisions during incapacity are guided by your chosen priorities.
Our firm combines clear communication with thorough asset review, helping you understand options without jargon. We focus on practical results, early funding strategies, and careful coordination of documents to protect your loved ones.
Schedule future check-ins to update the plan for life changes, asset additions, or tax law updates.
A Revocable Living Trust is a flexible arrangement that can be changed or revoked during your lifetime. It holds assets for your benefit and for named beneficiaries, with you typically serving as trustee while alive. After death, the trust generally becomes irrevocable and distributions occur according to your instructions. This differs from a will, which becomes public through probate.
Funding involves transferring ownership of property into the trust, including real estate, bank accounts, and investment accounts. Without funding, the trust may not control those assets. We review titles, beneficiary designations, and transfer processes to ensure the plan functions as intended.
A trustee should be someone trusted to manage assets and follow your instructions. Many clients choose a family member, while others select a professional fiduciary or trust company for ongoing reliability and expertise. It’s important to discuss powers, duties, and succession in advance.
In North Carolina, trusts primarily offer privacy and probate avoidance rather than outright tax reduction. A well-structured plan can optimize asset transfer and minimize court involvement, but basic estate tax considerations may still apply depending on the size of the estate. We tailor strategies to your situation.
Incapacity planning is a core benefit of a revocable trust with durable powers of attorney and a healthcare directive. The trustee or successor can manage financial and medical decisions per your preferences, ensuring continuity and reducing the need for court involvement during incapacity.
A properly drafted and funded trust can transfer with you if you relocate. Some states have different rules, but coordination with local counsel ensures your documents remain effective and aligned with current state law and cross-jurisdiction considerations.
Costs vary with complexity and asset types. We provide transparent estimates for drafting and funding, and we can discuss ongoing administration costs if you choose to hire a professional trustee. Many clients find the long-term savings from probate avoidance worthwhile.
We recommend annual reviews or when major life events occur. Updates may be needed after real estate purchases, changes in family circumstances, or shifts in tax or guardianship laws to keep the plan current.
