revocable living trust allows you to avoid probate while managing
your own estate. The significance of a revocable living trust
is that it survives at your death; therefore, if your assets
are in the trust, there is nothing for the court to probate.
Probate is a long,
expensive process that simply does not have to occur. To avoid
probate, a person or married couple can place their assets
in a "trust" while keeping full control over their
property. The trust has actual ownership of the property although
you own the trust throughout your lifetime. It is called "revocable"
because you can alter your estate plan anytime during your
lifetime and even revoke the entire trust if you choose. It
is called a "trust" because it creates an entity
where assets can be placed for normal use during your lifetime
and then be available for distribution to anyone you select
after your death.
the People can provide and type at your specific request the
following estate planning documents: Living Trusts, Wills, Medical
and Financial Powers of Attorney, Living Wills, Deeds and other
transfer documents. We The People cannot provide any tax, insurance,
financial, medical, legal or any other professional advice.
Because estate planning needs vary from individual to individual,
you should seek the advice of trained professionals on these
and other topics for your complete estate planning purposes.
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