Why should I consider creating a revocable living trust?
There are many reasons why you might want to consider a revocable trust. For one thing, it is a private document. It’s not recorded with the county, unlike a will which is a private document that has to be recorded once a person dies, in order to probate the estate. Additionally, a revocable trust gives you flexibility. As your circumstances change, it’s easily modifiable and adaptable. Additionally, it does avoid probate. As long as it is properly funded, your personal representative or trustee would be able to avoid opening an estate to probate the assets. Additional benefit of revocable trust is the the assets are immediately available to the beneficiaries. The trustee can make immediate distribution, pursuant to the trust agreement and it doesn’t have to wait or go through the probate process or go to a waiting period.