does a revocable living trust provide asset protection?

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ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF DOES A REVOCABLE LIVING TRUST PROVIDE ASSET PROTECTION?

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Page 1: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

DOES A REVOCABLE LIVING TRUST PROVIDE ASSET PROTECTION?

Page 2: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

ASSET TRANSFERS

Page 3: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

A revocable living trust is a very effective asset transfer

tool.

Page 4: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

There are various different benefits that a living trust will

provide.

Page 5: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

However, there are some limitations.

Page 6: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

PROTECTING ASSETS

When you have a revocable living trust,

you can in fact revoke or dissolve the trust.

Page 7: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

Because you have this level of control, the assets in the trust would not be protected if you were the subject of a lawsuit.

Page 8: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

BENEFITS

Page 9: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

Even though assets in a living trust are not protected,

there are other benefits.

Page 10: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

One of them is the ability to prepare for possible incapacity.

Page 11: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

You could empower a disability trustee to manage the trust in

the event of your incapacitation.

Page 12: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

EFFICIENT TRANSFERS

Page 13: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

When assets have been conveyed into a revocable

living trust, the distributions would not be subject to the

process of probate.

Page 14: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

Since probate can be time-consuming, and this is

another major benefit.

Page 15: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

SPECIFIC INSTRUCTIONS

When you create the trust declaration, you can leave behind specific instructions that the trustee

would be compelled to follow after you die.

Page 16: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

If you want to, you can allow for limited monthly

distributions to prevent the beneficiaries

from squandering their inheritances all at once.

Page 17: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

A revocable living trust is an estate planning vehicle that can be used by a wide

range of people.

Page 18: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

You do not have to be a multimillionaire to take

advantage of the benefits.

Page 19: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

ASSET PROTECTION TRUSTS

If asset protection is a top priority for you, you would not want to use a revocable

living trust.

Page 20: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

However, there are irrevocable trust that can be used for asset

protection purposes.

Page 21: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

Limited liability companies and family limited partnerships can also be used to protect assets.

Page 22: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

OUR FIRM CAN HELP

Page 23: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

We can provide answers if you have questions about asset

protection, living trusts, or any other estate planning topics.

Page 24: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

You can contact us at your convenience to arrange a

consultation.

Page 25: Does a Revocable Living Trust Provide Asset Protection?

ANNAPOLIS • MILLERSVILLE • BOWIE • WALDORF

Or visit our website www.sinclairprosserlaw.com

Nicole Livingston Jon J.

Gasior

Colleen SinclairProsser Victor A.

Lembo