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BENEFITS OF A REVOCABLE LIVING TRUST:
* Avoid Probate at Death
* Prevent Court Control of Assets at Incapacity
* Privacy/More Difficult to Contest
* Faster Distribution of Assets to Beneficiaries
* Provide for Children with Special Needs
* Control How and When Children Receive Assets
* Prevent Unintentional Disinheriting
* Name Guardians fro Minor Children
* Peace of Mind
* Advanced Tax Planning
WHAT IS A REVOCABLE LIVING TRUST?
A Revocable Living Trust is a legal documents that contains your instructions for what you want to happen to your assets when you die. A Will can only go into effect after you die, therefore, it provides no protection if you become physically or mentally incapacitated and a Will must first be verified by a probate court before it can be enforced.
HOW DOES A REVOCABLE LIVING TRUST WORK?
When you set up a Revocable Living Trust you are the Grantor. You retain control and you can make changes to your Trust an any time.
You will also name a Trustee, who will manage the assets in your Trust. Typically, you will serve as Trustee of your Trust during your life.
You will transfer assets from your name to the name of your Trust, which you control.
WHEN TO PREPARE A REVOCABLE LIVING TRUST:
The only time that you can prepare and implement a Revocable Living Trust is while you are alive and have legal capacity to enter into a contract. If you are unable to manage your own affairs or suffer from some other disability which affects your legal capacity, your estate plan (Trust or Will) may be effectively challenged by those who assert that you lacked capacity at the time the documents were, that you were subjected to fraud, coercion or undue influence during the creation and implementation of your estate plan.
The best time to prepare a Revocable Living Trust is now, while you have the capacity to do so.
OUR REVOCABLE LIVING TRUST INCLUDES THE FOLLOWING DOCUMENTS:
1. Trust
2. Pour0Over-Will
3. Power of Attorney for Finances
4. New Utah Advanced Health Care Directive (Living Will and Power of Attorney for Health Care)
5. Quit Claim Deed (transfers real property)
We offer free consultations and seminars on Revocable Living Trusts.
REVOCABLE LIVING TRUST
INFORMATION PACKET
Please contact us to discuss your needs at
no cost for an initial consultation.
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