A Revocable Living Trust can be an effective estate planning tool for avoiding probate and simplifying the transfer of assets after death.

A Revocable Living Trust can be an effective estate planning tool for avoiding probate and simplifying the transfer of assets after death. By creating a Trust and properly transferring assets — such as real estate, bank accounts, and certain investments — into the Trust during your lifetime, those assets can generally pass to your beneficiaries under the terms of the Trust without going through the probate process. You can continue to control and use the Trust assets while you are alive, and you can amend or revoke the Trust as your circumstances change. After your death, your successor Trustee can manage and distribute the Trust property without waiting for the court appointment of a Personal Representative, which may provide greater privacy and can be particularly helpful if you own real estate in more than one state. However, simply signing a Revocable Living Trust is not enough — the Trust must be properly funded and coordinated with your Will, beneficiary designations, and other estate planning documents. An experienced lawyer can help determine whether a Revocable Living Trust makes sense for your circumstances and make sure your estate plan is structured to accomplish your goals while minimizing the need for probate.

If you have questions about Revocable Living Trusts or any other aspect of estate planning, give us a call at 253.858.5434 to set up an appointment today.