A Revocable Trust is an alternative to a Will for distribution of assets upon your death.
There are many reasons why clients choose to set up Revocable Living Trusts during their lifetimes. While not everyone needs to have a Revocable Living Trust, here are a few of the many reasons why you may want to consider this alternative:
- A Revocable Living Trust, when properly funded, avoids the process of Probate Administration through the Courts. Using a Trust makes things easier for the individuals handling your estate after you die by avoiding this process as it does require more steps than a Trust Administration.
- If you have real property in different states, a Revocable Living Trust helps to avoid having to hire attorneys in different states to handle ancillary probates in those states.
- If you have a blended family with children from prior marriages or relationships, the use of Trusts can help to take care of your spouse after your death but can also ensure that your assets ultimately go to your chosen beneficiaries upon the death of your spouse.
- Revocable Living Trusts are private, are not filed at the Courthouse, and thus are not part of the public record.