REVOCABLE LIVING TRUSTS
Revocable living trusts have become the "go-to" estate planning tool. The popularity of revocable living trusts began in the early 1990's. At that time, probate was often a very expensive process, causing people to do what they could to "avoid probate."
There are many reasons to consider a revocable living trust. First, a properly funded trust and a good overall estate plan can avoid probate. Second, utilizing a trust as part of your estate plan can simplify the administration process upon your passing. Third, a trust makes it easier for someone to take over in the event of your incapacity. This benefit is how it got the name "living" trust, because it benefits you during your lifetime.
Not everyone needs a revocable trust, but it is definitely something to consider. Give us a call so we can discuss whether you can benefit from having a revocable trust.