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Revocable Living Trust

Estate Planning Benefits Everyone.

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Revocable Living Trust

CREATING YOUR TRUST

A revocable living trust is a popular planning tool. A revocable living trust can accomplish the following:

  • Designating who will be your successor trustee
  • Name beneficiaries who will inherit your assets
  • Name a trusted person that will have the authority to manage your assets should be become incapacitated and unable to do so yourself
  • Giving instructions for the management and distribution of trust property to your beneficiaries
Once you draft your trust document, you will need to properly transfer title and ownership of your property and assets to the trust. Just because the trust owns your property does not mean you lose access to it. While you are alive, you serve as the trustee and can manage, add, or withdraw funds whenever you like. After you pass away, the designated successor trustee will take over for you.

Modifying Your Trust

A revocable trust is just that, and you have the power to modify the trust document or revoke the entire trust whenever you choose. For example, if you get divorced and you and your spouse have a joint trust, it is not at all difficult to revoke the joint trust and create a new one on your own. You should regularly review your trust for possible modifications with an experienced trust and estates attorney.

Benefits of a Trust

Why create a trust? There are many reasons why it is worth it to create a living trust as part of your estate plan. These include:
  • Avoiding probate – Generally, an estate must go through the probate process, which can be costly, stressful, and time-consuming for your family members. However, property and assets owned by a trust can skip over probate and can be distributed in accordance with the trust document with no court intervention.
  • Greater control – When your estate is distributed via a will, your beneficiaries will receive their inheritance at once, which is not always preferable. A trust allows you more control over distributions. For instance, you can attach conditions to distributions, such as your adult child must graduate with a bachelor’s degree before they receive their full inheritance. A trust can offer additional benefits, such as creditor protection for your beneificaires.
  • Privacy – A revocable living trust is not filed with the court at your death and therefore, does not become available to the public.

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To learn more about the revocable living trust or estate planning in general, please visit our blog.
Our experienced staff  would love to answer any questions you may have.  If you’d like to receive more information or have questions, please fill out our Free Case Evaluation Form below.  Or if you’re ready to schedule your consultation then  give us a call at  (954) 723-4322
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I lost my husband unexpectedly last year. I recently realized I needed to update my will. Ms. Love was recommended by a friend. As a retired law enforcement officer, I have dealt with many lawyers over the years. Most of these encounters were not pleasant. This one was. As I deal with my grief and begin to rebuild my life, I was not looking forward...

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I had the pleasure of working with Jackie Love for my estate planning, and I couldn’t be happier with the experience. From our first meeting, Jackie was professional, knowledgeable, and incredibly patient in explaining every detail of the process. She took the time to understand my specific needs and made sure everything was organized exactly as I wanted. Jackie made what could have been a stressful and confusing process feel...

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Professionalism at it's best! We routinely have contractual agreements that we need reviewed in our business, with varying complexities. Jacqueline has always provided an intelligent and thorough analysis, along with tailored legal recommendations for each business agreement we have encountered. She is professional, very knowledgeable, detail-oriented, and always treats each of her clients like they are her very best clients! Outstanding attorney! I would recommend her to any individual, family...

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