A revocable living trust offers control, privacy, and flexibility. Assets moved into the trust can pass to heirs without public probate, while you retain the ability to change terms as circumstances shift. This approach supports privacy, reduces court oversight, and can simplify incapacity planning when family needs evolve.
A unified plan reduces conflicts between instruments, ensures consistent beneficiary designations, and makes administration easier for heirs and trustees, especially when coordinating with financial institutions.
We focus on practical, client centered planning that respects your goals and budget while ensuring compliance with North Carolina law.
We schedule periodic reviews to update beneficiaries, trustees, and asset holdings as circumstances change.
A revocable living trust is a flexible arrangement perfected during your lifetime. You can amend or revoke it as circumstances change, and you remain in control of assets while alive. After death, the trust can provide a smoother, private transfer to beneficiaries without mandatory court involvement. In North Carolina, the trust interacts with your will and other documents to guide distribution.
Yes, a properly funded revocable living trust can avoid probate for assets placed into the trust. However, assets not transferred before death may still pass through probate if not covered by the trust documents. In many cases, a combination of trust and will provides comprehensive coverage while preserving privacy.
Funding a trust involves retitling bank accounts, real property, and other holdings in the name of the trust. This step is essential; without funding, the trust cannot control assets. We guide you through the process, ensuring titles are updated and beneficiaries are clearly named.
If you become incapacitated, a durable power of attorney and a well drafted trust can allow a trusted person to manage finances and care decisions. This arrangement helps avoid guardianship or court intervention while ensuring your preferences are respected and documented.
Revocable living trusts themselves do not remove estate taxes, but they can be combined with other planning tools to improve tax efficiency. With careful design, families can minimize taxes on estate transfers while maintaining flexible control during life.
A successor trustee should be someone trustworthy, capable of handling financial duties, and familiar with family dynamics. Many clients choose a trusted family member or a professional fiduciary who understands local requirements and how to coordinate with financial institutions.
A trust plus a pour-over will often provides the most complete coverage. The will handles any assets not previously funded to the trust, while the trust governs ongoing management and distribution, helping avoid gaps and ensuring consistency across documents.
The timeline depends on asset complexity and funding. A simple trust with direct funding can be prepared in a few weeks, while a comprehensive plan with multiple properties and entities may take longer. We work to establish clear milestones and maintain steady progress.
You will likely need identification documents, a list of assets, beneficiary information, powers of attorney, health directives, and any existing wills or trusts. We provide checklists and assist with compiling the information to speed up drafting and review.
To begin, contact our Maxton office for a consultation. We will review your goals, discuss asset scenarios, and outline the steps to create and fund a revocable living trust. From there, we guide you through drafting, execution, and funding.
