While the traditional Last Will and Testament has its place, a Revocable Trust is the core instrument of a modern estate plan. Sometimes called a Living Trust, a Revocable Trust creates a foundation that lets you determine who will control your assets upon your disability or death.
By using the trust, your family avoids the costly, time-consuming process of probate court. During your life, we transfer your assets to the trust, which, in effect, “owns” the assets. Upon your death, your appointed Trustee sees that your assets are distributed according to your wishes. Since you “own” nothing, probate is avoided.
At Legacy Trust & Wills, we believe a Revocable Trust offers important advantages over an Irrevocable Trust. A Revocable Trust allows you to make changes at any time during your life. Once an Irrevocable Trust is established, you cannot make changes. This is why we provide a Revocable Trust as the foundation of your plan.