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Revocable Living Trust

A legal document that outlines how an individual’s assets will be managed during their lifetime and distributed after their death.

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Original price was: $212.60.Current price is: $103.58.

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Service Description

A revocable living trust is a legal document that allows you to manage your assets during your lifetime, while also providing for their distribution after your death. This type of trust is designed to be flexible and can be changed or revoked at any time during your lifetime, which is why it is called “revocable.”

The revocable living trust is created by the trustor, who is the person who owns the assets that will be placed in the trust. The trustor also designates a trustee, who will manage the assets held in the trust according to the trustor’s instructions. The trustee can be an individual or an institution such as a bank or trust company.

The trustor can place a wide variety of assets in the trust, including real estate, investments, and bank accounts. Once the assets are placed in the trust, they are no longer considered part of the trustor’s estate for purposes of probate. This means that they can be distributed to the trustor’s beneficiaries without going through the probate process, which can be time-consuming and expensive.

One of the benefits of a revocable living trust is that it provides for the management of assets in the event that the trustor becomes incapacitated. The trustee can manage the assets held in the trust for the benefit of the trustor, ensuring that bills are paid and that the trustor’s needs are met.

Another benefit of a revocable living trust is that it can provide for the distribution of assets after the trustor’s death. The trustor can specify how the assets held in the trust should be distributed to beneficiaries, which can help to avoid family disputes and ensure that the trustor’s wishes are carried out.

In summary, a revocable living trust is a flexible and powerful estate planning tool that allows you to manage your assets during your lifetime and provide for their distribution after your death. It can help to avoid probate, ensure that your wishes are carried out, and provide for the management of your assets in the event of your incapacity.

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