Understanding Revocable Trusts
It is a misconception that estate planning is solely for the rich and the elderly. Similarly, creating a revocable trust can be beneficial for individuals to hold, manage and transfer property to loved ones in an estate plan. A revocable living trust is often created as a feasible method of avoiding probate. These instruments can be valuable in maintaining family privacy. In addition to providing privacy and probate avoidance after you pass, a successor trustee can manage your trust assets should you become incapacitated.
Experience Crafting, Amending And Fixing Trusts For Florida Residents
A significant benefit of creating a living trust is that you can amend the trust, add assets, sell assets, change beneficiaries and ensure that your desires are protected as family dynamics change over time. Many individuals use a trust document to add conditions to an inheritance, such as requiring a child to complete college or reach a specified age before the inheritance transfers the adult child’s control.
A revocable trust may be able to help a parent in a second marriage and blended family arrange assets to avoid the disinheritance of biological children and still provide for his or her spouse and other family members. Spouses who want to protect an inheritance from being subjected to commingling can create a trust to manage the inheritance.
Melbourne estate planning attorney Amy B. Van Fossen has substantial experience helping clients create, amend and fix revocable trusts to meet the needs of clients. Like any estate planning tool, however, a revocable trust is not a panacea to solve every estate planning concern. It is crucial that the instruments you choose are best suited to achieve your estate planning goals. When you work with us, you can rest assured that we will intently listen to your needs and desires and provide you with the legal counsel you deserve to allow you to make informed decisions.
Get In Touch With An Approachable Estate Planning Lawyer In Brevard County
To learn more about living trusts to avoid probate and manage assets, call our office in Melbourne, Florida, at 321-426-1848 or 800-495-9153 toll free. You may also contact us online to request a consultation.