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What are the benefits of a revocable trust?

On Behalf of | Aug 27, 2022 | Estate Planning

A revocable trust can be a powerful estate planning tool. Whether your goal is to protect your assets for future generations or guard against divorces and lawsuits, a revocable trust may be the best option to help you reach your goals.

If you are interested in maintaining your privacy and protecting your heirs, a revocable trust may be for you.

What is a revocable trust?

A revocable trust is a document that the settlor, or the person that initiates the trust, can change or cancel at any time. A trust allows you to retain complete control of your assets while you are alive, and better control over the allocation of them after you pass.

What are some benefits of a revocable trust?

A revocable trust affords many benefits. You may choose to include a revocable trust in your estate plan to:

  • Avoid probate court and pass assets directly to your beneficiaries
  • Protect your assets against loss, due to divorce, lawsuits or other legal actions
  • Appoint a trustee to privately handle your financial affairs, bypassing probate court
  • Tax plan for your beneficiaries
  • Maintain your privacy by keeping your information out of probate court and away from prying eyes

Aren’t trusts only for the ultra-wealthy?

Revocable trusts are not only for the wealthy. They are for anyone that wants to maintain their privacy, retain control over their estate and wish to have an efficient and accurate distribution of assets for their beneficiaries when the time comes.

A revocable trust can help anyone who wants to maintain powerful control over their estate and ensure the efficient and accurate execution of their final wishes.

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