3 Reasons You Should Consider A Revocable Living Trust 

  • By sjoiner
  • •
  • 08 Dec, 2022

A revocable living trust is a legal document designed to help you manage your assets and plan for your estate. A revocable living trust can help ensure that your wishes are carried out after death, protect family members from probate court, and allow you to remain in control of your assets while alive.

Revocable Living Trusts Help To Avoid Probate

As mentioned above, probate is the process of transferring property to a new owner after someone's death. The process can be simple or complicated, depending on the size and type of property involved. It often involves court supervision and also costs money in legal fees and other expenses. With a revocable living trust, you can avoid probate altogether by naming one or more people as successor trustees to manage your affairs after your death—and by placing all your real estate in the trust during your lifetime (which means it doesn't have to be transferred into a new entity).

By using this method rather than simply leaving everything to an heir who may not have any experience managing money or real estate management skills, you'll save time and money today while ensuring that all loose ends are tied up when it's done without any problems later on down the road!

Remain in control of your assets while you're alive.

As you grow older, you may want to make changes to your trust. The good news is that revocable living trusts allow this. You can change the beneficiaries of your assets, add or remove property from the trust and even revoke your entire trust at any time.

Furthermore, if you decide that a different person should act as the executor of your estate when it's time for someone else to take over managing them (for example, if you become incapacitated), then this person can be added or removed from their duties at will by you or another named person in the trust agreement.

Specify what happens to your assets when you die.

A revocable living trust allows you to name a successor trustee, who will take over for you if something happens to you. You can also specify how your assets are distributed and whether they go to your spouse or children (or other beneficiaries). If you have no surviving family members, the trust can be left in an estate that will go toward charity instead of passing on a piecemeal basis through probate court.

In conclusion, a revocable living trust is a valuable asset for anyone who wants to protect their family and control what happens with their assets after they pass away.

Do you have questions when it comes to starting your own revocable living trust? Contact our team today at Nash Law Firm in Maumelle! 

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