why would i want a revocable living trust

27
WHY WOULD I WANT A REVOCABLE LIVING TRUST?

Upload: mark-costley

Post on 12-Aug-2015

55 views

Category:

Law


3 download

TRANSCRIPT

Page 4: Why Would I Want A Revocable Living Trust

Many people assume that they should use a last will, but a will is not always the best choice

Page 6: Why Would I Want A Revocable Living Trust

When you use a will to transfer assets, the will must be admitted to probate after you

die

Page 7: Why Would I Want A Revocable Living Trust

The heirs to the estate do not receive their inheritances until

after the estate has been probated by the court

Page 12: Why Would I Want A Revocable Living Trust

There are also some considerable expenses that can accumulate

during probate

Page 14: Why Would I Want A Revocable Living Trust

It is possible to facilitate asset transfers outside of probate

Page 15: Why Would I Want A Revocable Living Trust

The revocable living trust is a very useful probate avoidance

tool

Page 17: Why Would I Want A Revocable Living Trust

You maintain control of the assets that you convey into a revocable living trust while you are living

Page 18: Why Would I Want A Revocable Living Trust

After you pass away, the trustee that you choose distributes assets to the beneficiaries

Page 19: Why Would I Want A Revocable Living Trust

These distributions would not be subject to the probate

process

Page 21: Why Would I Want A Revocable Living Trust

Revocable living trusts are also useful for incapacity planning

purposes

Page 22: Why Would I Want A Revocable Living Trust

When you create the trust, you name a disability trustee

Page 23: Why Would I Want A Revocable Living Trust

This person or entity would be empowered to administer the

trust in the event of your incapacitation

Page 25: Why Would I Want A Revocable Living Trust

In this presentation we have provided some basic information

Page 26: Why Would I Want A Revocable Living Trust

If you would like to learn more about revocable living trusts, contact our firm to request a

consultation