Benefits of a Revocable Living Trust
Almost everyone thinks of a Last Will and Testament when they consider estate planning. However, under certain circumstances, one of the most useful estate planning tools is the revocable living trust. Estate planning is not just for the rich and famous or extremely wealthy. It is important for every person to have a financial plan for their beneficiaries to follow after they pass away. One of the options available is the revocable living trust. Revocable Living Trust A revocable living trust is an estate planning document that divides assets following a person’s death, similar to a last will and testament. Assets may include a family home, vacation property, savings or checking accounts, investments, retirement plans, or even family heirlooms. The revocable living trust is created during a person’s lifetime and is, as the name suggests, revocable. The assets of this trust may also be used by the crea