This service helps avoid probate for many assets, keeps family matters private, and allows you to control how and when your heirs receive property. A revocable living trust also supports incapacity planning by naming a trusted successor to manage affairs if you cannot act, ensuring continuity.
A well-structured trust ensures assets transfer smoothly to beneficiaries, reducing court involvement and delays. It also provides a clear roadmap for trustees to follow, which helps prevent family disputes during transitions.
Our Wilson team brings a collaborative, client-centered approach to estate planning. We explain options in plain language, coordinate with financial professionals, and tailor documents to your unique situation and goals.
We provide ongoing support for changes such as new assets, beneficiaries, or family dynamics, ensuring your plan remains effective and aligned with your wishes.
A Revocable Living Trust is a trust you can modify or revoke during your lifetime. You retain control as trustee, manage assets, and can adjust provisions. After death, a successor trustee follows your instructions to distribute assets privately, often avoiding probate. This approach provides flexibility and privacy while maintaining oversight.
In many cases, a Revocable Living Trust helps avoid probate for assets placed in the trust. While some assets outside the trust may still go through probate, properly funded trusts reduce public disclosure and can speed up distributions. North Carolina law supports trust-based planning for privately managing assets.
Trustees are chosen based on reliability and fiduciary capability. Common choices include a trusted family member, a sibling, or a professional fiduciary. We help you select someone who aligns with your goals and can navigate financial responsibilities and discretion effectively.
Funding a trust involves retitling real estate, transferring bank and investment accounts, and updating beneficiary designations. This step is crucial; without funding, the trust cannot control assets. We guide you through the process to ensure coverage of all relevant assets.
Revocable trusts focus on control and flexibility rather than generating tax savings. They can streamline estate administration and privacy, but tax planning remains a separate consideration. We coordinate with tax professionals to optimize overall results where possible within state law.
If you lose the ability to act, a designated successor trustee can take over management. Durable powers of attorney and health directives work alongside the trust to ensure financial and medical decisions are handled according to your preferences.
A will provides instructions for asset distribution after death, while a trust can manage assets during life and after death with ongoing control. Trusts typically offer privacy and probate avoidance, but wills may still be needed to cover assets not placed in the trust.
We recommend reviewing your plan at least every two to three years or after major life events. Regular reviews help ensure assets are funded, beneficiaries are aligned with goals, and provisions reflect current laws and circumstances.
Yes. You can amend or revoke a revocable living trust at any time as long as you are competent. We assist with codicils, restatements, or creating a new trust to reflect changed assets or family needs.
To get started, contact our Wilson office for an initial consultation. We will discuss your goals, explain options, and outline the steps to draft and fund a Revocable Living Trust tailored to your situation.
