A revocable living trust is a living document that you create during your lifetime to protect your home and other valuables and determine who gets those items and where those items go. A trust allows you to determine who will administer your estate and protects your beneficiaries.
It is “revocable” because you can change it during your lifetime and you alone are the creator and the one in Sole power of making those changes. It is your document until death and it becomes binding upon your death, therefore protecting you and making sure your wishes for after death planning are followed through with.
A living trust avoids probate, so no court involvement is needed and no attorneys are necessary, therefore avoiding the stress and cost that comes with probate.
- Protect family from uncertainty
- Avoid Probate (a will does not protect against this)
- Guarantee that the government will not take your estate
- Protect minor children and pets
- Ensure your assets are distributed per your desires
- Maintain your privacy