
There are numerous goals and objectives in estate and financial planning that can only, or best, be obtained with a revocable trust.
A simple Last Will and Testament is, in many ways, an antique. For most people living in the twenty-first century, the Will can accomplish few, if any, of their estate planning goals. As you browse through these pages, and learn just how powerful a trust in a modern estate plan is, ask yourself whether you are ready to entrust to an antique , your life, your freedom, your assets, and the financial security of your family, as you traverse the challenges and dangers so prevalent on the thoroughfares of modern life.
Other pages will explain the major benefits of having a trust. The executive summary of the benefits of a living trust as part of a comprehensive estate plan follows:
»Avoids probate at death, including multiple probates, if you own property in several states
»Avoids guardianship during your life and the associated threats to your freedoms and assets »Implements an Aging in Place Plan with Supported Decision-making»Provides consistent management at time of illness
»Prevents court control of your person and assets at incapacity
»Brings all your assets together under one plan
»Provides maximum privacy
»Allows quicker distribution of assets to beneficiaries
»Can retain assets in trust until you want beneficiaries to inherit
»Can reduce or eliminate estate taxes
»Can protect assets from risk of loss from beneficiary creditors, divorce, disability, drug or alcohol dependence, and the like
»Is inexpensive, easy to set up and maintain
»Can be changed or cancelled at any time
»Is difficult to contest
»Prevents court control of minors’ inheritances
»Can protect dependents with special needs
»Prevents unintentional disinheriting and other problems of joint ownership
»Permits professional management with corporate trustee
»Provides Peace of mind