NOTICE: In light of the recent concerns regarding the Covid-19 virus, protecting our clients and their legacies remains our most important focus. We are encouraging all current and future clients to meet with us via phone or video conference. Please contact our office to discuss your options.

What is a Revocable Living Trust?

by | Aug 10, 2019 | Estate Planning and Probate |

DAL Law can help you in creating the estate plan which is right for you with a Revocable Living Trust. A Revocable Living Trust is used to protect your assets and avoid probate. Our office works with you in ensuring that a Revocable Living Trust is right for you.

In determining whether a Revocable Living Trust is right for you, it is important to understand what a Revocable Living Trust is. In our initial consultation, we will discuss this in more detail, but a brief overview is provided below.

The largest difference between a Revocable Living Trust and a Will is that a will requires Probate, and a Revocable Living Trust does not. While both a Revocable Living Trust and a Will leave instructions for your loved ones regarding the administration and distribution of your estate, the Revocable Living Trust empowers your Successor Trustee to make such distributions, whereas the Will does not and will require the oversight and approval from a Probate Court.

A Revocable Living Trust is created during your lifetime, and you have complete control of the Revocable Living Trust. A Revocable Living Trust continues to exist after your passing, to allow your Successor Trustee to make the distributions according to your Revocable Living Trust

Our Revocable Living Trust services include:

  • An initial consultation to assess your assets, discuss your wants and needs, explain how a Revocable Living Trust works, and help you decide if a Revocable Living Trust is right for you.
  • Prepare your Revocable Living Trust, which is specifically tailored for you, keeping in mind your wants and needs we discussed in our initial consultation.
  • Unlimited reviews and revisions to ensure your Revocable Living Trust accurately reflects your requests.
  • Execution of your Revocable Living Trust, and we will provide the witnesses and notary
  • To complete your estate plan, we also highly recommend that we prepare and execute Power of Attorneys and other related estate planning documents.

A Revocable Living Trust can be a very useful tool based on the type of assets, as long as the assets are properly maintained in the Revocable Living Trust. If you do not have an estate plan, or are considering adding a Revocable Living Trust to your estate plan, please give us a call today at 206-408-1688, or email our office. We look forward to being able to assist you with your estate planning needs.