Benefits of Having a Revocable Living Trust

  1. Avoid a costly and lengthy probate case in Court.
  2. Transfer property in the privacy of the attorney’s office—not through court.
  3. The administration of the trust is not a public event and information is not a public record.
  4. Protect yourself (especially in old age or during an incapacity) if someone attempts to fraudulently transfer your property.
  5. Direct how and when the distribution of your property will happen after your death.
  6. Protect your children from predators and from receiving monies at an inappropriate age.
  7. Protect your children’s inheritance from creditors, bankruptcy and/or divorce.
  8. Have a person of your choosing act as the trustee to manage your minor children’s monies instead of a stranger appointed by the court.
  9. Have a person of your choosing act as trustee to manage your estate during your life if you choose to not do it yourself or if you are not able to do it yourself following your written instructions.
  10. Protect your children’s inheritances if your spouse decides to remarry or falls victim of fraud or deceit.
  11. Protect your surviving spouse from creditors and predators or from your own’s spouse bad money judgment.

Every case is different, and each person has different needs or desires. Not all plans fit everyone, and each plan is drafted with your specific goals in mind. Have your specific situation reviewed by a competent attorney and your questions answered before you make any decision about your plan.

Warmest Regards,

Yahima


Ph. #: 305-456-7158
www.LifePlanningAndBeyond.com

2 Comments on “Benefits of Having a Revocable Living Trust

  1. What would you say its a reasonable price range I should be paying to setup a revocable living trust. I just want to make sure I am not overpaying for these services

    • Ihieren, I would not think of estate planning costs as a price but an investment. You could have a trust prepared for you for very little by an attorney who does not concentrates in estate planning or you could even fill out a form yourself and it may work or not they way you want it to work in the future, when it is actually needed. If you invest the right money and Time into putting together an estate plan that works for your family and for you, then it should be priceless. I would concentrate more on the attorney’s experience and the attorney’s attention to your own needs. If you pay too little, you may get the quality commensurate with what you paid.

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