Revocable Living Trust
Estate Plan
The Benefits of a Revocable Living Trust
A revocable living trust is an estate plan that allows an individual (the Trustor) to place assets into a trust during their lifetime, with the ability to modify or revoke it at any time.
A trust dictates exactly how an individual’s property will be managed, allocated, and distributed throughout his or her lifetime or upon death. A “living” trust entails that an individual created the trust while he or she was still alive. The trust is designated as “revocable” in that the trust creator reserves the right to make changes to, amend, or even revoke the trust during his or her lifetime. A Revocable Living Trust eliminates challenges to the trust.
The Grantor/Trustor typically serves as the trustee initially, managing the assets as they would normally, but designates successor trustees to manage the Trust in the event of incapacity or death.
This Trust allows for the seamless transfer of assets to beneficiaries upon passing, avoiding the expenses and stress of the probate process and providing privacy, flexibility, and potential tax benefits!
Here is a quick and fun video explaining what a revocable living trust is
Last Will and Testament VS. Living Trust
A will may not be the best plan for you and your family as a will does not avoid probate when you die. A will must be validated by the probate court before it can be enforced and can only go into effect after you die. It does not protect if you become physically or mentally incapacitated. So the court could easily take control of your assets before you die.
There is a simple and proven alternative to a will; the revocable living trust. It avoids probate and lets you keep control of your assets while you are living if you become incapacitated, and allows your heirs to effectively manage your assets and estate after you die.
When you set up a living trust, you transfer assets from your name to the name of your trust, which you control and manage. You still keep full control of your estate. As a trustee of your trust, you can do anything you could do before -- buy and sell assets, change or even cancel your trust. That's why it's called a revocable living trust. You even file the same tax returns. Nothing changes but the names on the titles.
Documents Included in Our Estate Plan Package:
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Revocable Living Trust Agreement
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Certificate of Trust
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Pour-Over Will
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Memorandum for Distribution of Property
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Digital Assets Memorandum
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Burial instructions
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Living Will
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Financial Power of Attorney
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Healthcare Power of Attorney
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HIPPA Authorizations
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Transfer Deed for real property
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* (additional fees for additional properties)
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2 Books:
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How to Fund Your Trust
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Introduction to Your Estate Plan
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$2,450.00
How it Works
The process starts by filling out the questions in the link provided below which helps us get started on the documents. We will then set a meeting time via Zoom to review the documents, make changes and corrections. Payment is then due at that time as the documents will be sent to you via email to further review.
Once you feel comfortable and the documents are to your full specifications, we will schedule a time to have the Estate Plan signed and notarized. It will then be printed and sent to you as a hard copy in the mail for you to then fully complete by initialing a few pages and then transferring your assets. Let me know if you’d like to get started by selecting one of the buttons above and filling out each question.
1. Complete our
online Trust
Questionnaire.
2. Meet with us via Zoom or locally to review your completed documents.
3. Notarize your documents via an online Notary.
4. "Fund" your Trust using the instructions included in your Trust package.