Revocable Living Trust
A Revocable Living Trust, is a legal arrangement in which you transfer ownership of your assets into a Trust ("Legal Entity") during your lifetime, with the flexibility to modify or revoke the Trust as needed.
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As the creator of the Trust, you typically serve as the Trustee and maintain control over the assets, managing them for your benefit.
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Upon your death or incapacity, a Successor Trustee, whom you have designated, steps in to manage or distribute the trust assets according to your instructions.
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Revocable Living Trusts offer several advantages, including PROBATE AVOIDANCE, PRIVACY, FLEXBILITY and CONTROL in managing assets during your lifetime and facilitating a seamless transfer to your beneficiaries after your passing. By establishing a Revocable Living Trust, you can ensure that your assets and YOUR HOME and PROPERTIES ARE PROTECTED and distributed according to YOUR WISHES (Not a Judge) while avoiding the delays and costs (Court costs, Attorney costs, etc.) associated with Probate.
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At Probate Prevention Corporation, we provide comprehensive guidance and support to help you create a customized living trust that aligns with your estate planning goals and safeguards your legacy for future generations.
A Trust is a "Legal Entity" with separate and distinct rights, similar to an Individual (a Person), Corporation or L.L.C.
In a Trust, a party known as a Trustor gives another party, the Trustee, the right to hold title to and manage property or assets for the benefit of a third party, the Beneficiary.
Importance of having a Living Trust
At Probate Prevention Corporation, we specialize in helping clients create tailored living trusts that meet their unique needs and objectives, providing expert guidance and support every step of the way.
INFORMATION NEEDED TO MAKE A LIVING TRUST
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Your Information: Name, Date of Birth, Address, City, State
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Possible Beneficiaries: Spouse, children’s names, non-family members or organizations who may be beneficiaries.
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Trustee: Who will be responsible for managing the Trust
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Distribution: How you want the Trust assets to be distributed.
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List of Assets: The Assets, the Value of the Assets, and a Description of the Assets
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Tangle Assets/ Personal Property: You can dictate how tangible assets may be distributed such as vehicles, jewelry or household items
"Those who love us, plan for our begining.
Those we love, need a plan for our ending."
- April Kootntz
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"Pain in this life is not avoidable, but the pain we create avoiding pain is avoidable"
- R.D. Laing