A properly drafted Revocable living trust is a powerful estate planning tool that allows you to remain in control of your assets during your lifetime, have them managed during incapacity, and efficiently and privately transfer them to your loved ones at death according to your wishes.

 Sometimes referred to simply as a Living Trust, it holds legal title to your assets and provides a protected and efficient means to manage those assets while preserving your privacy. You (or you and your spouse) would serve as the trustee and beneficiary of your trust during your lifetime. As the trustor, you would also designate successor trustee(s) to carry out specified instructions regarding management and distribution of those assets in the event of death or incapacity.

Essential to every living trust is the efficient and expeditious transfer of the majority of assets to your living trust, including, but not limited to: Real Property, Investment Accounts, LLC and Corporation Interests, as well as Savings Accounts and other business interests. And, it is important to note that all Living Trusts are revocable, which simply means that you may revoke the trust in its entirety or make any amendment at any time as only you see fit. Upon your passing or subsequent incapacity, however, the Living Trust can no longer be modified, amended or revoked and the successor trustee(s) you designated will then proceed to implement your wishes as directed.