Information about Revocable Living Trusts

Advantages of the Revocable Living Trust

• Avoidance of Probate- Probate is the legal process for transferring your property when you die. Establishing an revocable living trust can be especially useful in avoiding expensive multiple probate proceedings when you own real estate or other property in several states. Assets named in trust avoid the costly courts and typically take precedence over the property designated in your will.
  
  
• Changeable or Revocable- The revocable living trust allows you to make changes (or amendments) to the trust document while you are still alive.
  
  
• Privacy Preservation - Revocable living trusts generally allow the transfer of your personal assets to remain private within the constraints of the trust document. The probate process may expose your estate to public scrutiny.  
  
  
• Eliminate Challenges to the Estate - The standard will can create family disputes at your death and be challenged for alteration by any member of your family and create burdensome contestation issues.  
  
  
• Continuous Management - This allows the wealth that you've accumulated to continue to grow for multiple generations by using a professional trustee to manage your property. You can limit the amount of withdrawals to income only, with special emergency provisions if you desire.