Revocable Living Trusts

Complete Trust Package

from $ 1,375.00

No Hidden Charges

* Includes Revocable Living Trust, Pour-Over Wills, Durable Powers of Attorney, Advance Health Care Directives, Nomination of Guardians for Minor Children, Trust Transfer Deed & Recording

Estates under $2,000,000

Larger Estates from $1,895.00

A Revocable Living Trust is created by you during your lifetime.  The trust is used to maintain control over your assets during your lifetime and control the disposition of them after your death.  The trust is basically a legal arrangement that transfers ownership of your assets from you, the settlor, to the trustee.   The trustee, may be an individual or an institution.  In most cases, the settlor will act as trustee during his or her lifetime.  You also will provide for a successor trustee to take over at your incapacity or death.

The major benefits of the Revocable Living Trust are:

Avoiding Probate: At your death, the trust assets may be distributed quickly according to the terms of the trust.  Your estate can thus avoid the delay, fees, and public exposure associated with probate.  A Revocable Living Trust is especially recommended for anyone who owns real estate in more than one state.  Without a Revocable Living Trust your estate will have to go through probate in each state where the property is located.

Protection from Incapacity: The Revocable Living Trust can provide uninterrupted management of your assets by your trustee if you become incapacitated. If illness or injury ever makes you incapable of managing your financial affairs, the trust can spare you and your family the potential publicity and expense of a court-appointed guardianship. Without the trust (or other contingency planning device such as a durable power of attorney), there is no one with authority to manage your property. A court must judge you to be incompetent and appoint a committee or guardian to manage your affairs. That guardian could be a stranger to your family or be a family member who would normally be unacceptable to you.

Pour-Over Will:   The Revocable Living Trust does not completely eliminate the need for a Will. A Will is necessary to pass on those assets you have not transferred to the trust. In order to have all your assets pass through the trust, you must have a Will with a pour-over provision. This directs any assets not already in the trust to be transferred into the trust at your death, where they will be managed and distributed as your Revocable Living Trust directs. Without a pour-over provision in a Will, these additional assets will pass according to your last unrevoked Will or your State’s law if there is no Will.



© Alex J. Llorente  2012