Key advantages include avoiding probate, preserving privacy, and maintaining control over asset distribution during life and after death. A well drafted revocable living trust can simplify administration for beneficiaries and provide flexibility to adapt to changing family circumstances.
A comprehensive plan provides clear directions for asset distribution, guardianship, and funeral preferences, reducing ambiguity and potential conflict among beneficiaries while preserving your intentions.
Choosing our firm means working with attorneys who listen carefully, explain options in plain language, and tailor plans to fit your goals. We focus on practical, compliant strategies that protect families today and for generations.
We offer guidance on updating plans as life changes occur, ensuring ongoing alignment with your goals and legal requirements.
A revocable living trust is a flexible estate planning tool that allows you to control assets during life, designate beneficiaries, and adjust distributions as needs change. It can help maintain privacy and simplify eventual transfer to heirs. Unlike irrevocable trusts, revocable trusts can be modified or dissolved, but they do not remove ownership for tax purposes while you are alive.
Yes, in many cases a properly funded revocable living trust can help avoid probate for assets held within the trust. However, some assets may still be subject to probate if they are not funded or have joint ownership with survivorship rights. Working with an attorney ensures proper transfer and coordination with wills and designations.
Commonly funded assets include real estate, bank accounts, investment accounts, and certain retirement or life insurance benefits placed inside the trust. The goal is to have those assets managed through the trust during lifetime and distributed per the trust terms after death.
A trustee should be a person or institution you trust to manage assets, follow the terms, and communicate clearly with beneficiaries. Many choose a family member, a trusted friend, or a professional fiduciary to ensure responsibilities are met.
Review your trust at least every few years or after major life events. Changes in assets, family dynamics, or tax laws may require updates to keep the plan aligned with your goals.
If you become incapacitated, a properly drafted power of attorney and successor trustee can manage finances and healthcare decisions without court intervention, providing continuity and reducing disruption for your family.
Even with a trust, a will remains useful for controlling items not funded into the trust and providing a backup plan. The will can address guardianship, personal property, and probate matters not covered by the trust.
A revocable living trust generally does not offer income tax relief during life, but asset transfers within the trust may have tax implications. After death, taxes may still apply depending on estate size and allocations.
Costs vary by complexity, asset level, and planning goals. We provide clear, upfront pricing and discuss the scope of work during the initial consultation to ensure you understand the services and associated fees.
Yes. You can revoke or amend a revocable living trust at any time while you remain capable. The flexibility to adjust terms means your plan can evolve with changing circumstances and goals.
