REVOCABLE LIVING TRUSTS

Revocable Living Trust: Protecting Your Assets and Providing Flexibility

A Revocable Living Trust is an estate planning tool that allows you to manage and protect your assets during your lifetime, while ensuring a smooth transition of those assets to your beneficiaries after your passing. Unlike a will, a revocable living trust helps your estate avoid probate, offering privacy, faster asset distribution, and potential tax benefits. As the name suggests, this trust can be modified or revoked at any time during your life, giving you full control over your assets.

At Warshofsky Law, we understand that creating a solid estate plan is essential to securing your legacy and providing for your loved ones. A revocable living trust allows you to transfer ownership of your property, investments, and other assets into the trust while continuing to manage them as the trustee. Upon your death or incapacity, the successor trustee you designate will manage and distribute your assets according to the terms you set in the trust.

Why Choose a Revocable Living Trust? 

There are several key benefits to creating a revocable living trust:

• Avoiding Probate: Unlike a will, a revocable living trust allows your assets to pass directly to your beneficiaries without the need for probate, which can be time-consuming and costly.
• Privacy: Since the trust does not go through probate, your assets and their distribution remain private and are not part of the public record.
• Flexibility: A revocable living trust can be changed or revoked at any time during your life, giving you the freedom to adjust your estate plan as your circumstances or wishes evolve.
• Incapacity Planning: If you become incapacitated, your successor trustee can manage your affairs without the need for a court-appointed guardian, ensuring continuity in your asset management.

How Does a Revocable Living Trust Work? Creating a revocable living trust involves transferring ownership of your assets—such as real estate, bank accounts, investments, and personal property—into the trust. As the trustee, you retain full control over these assets during your lifetime, just as you would if they were held in your name. After your death or if you become incapacitated, the successor trustee will step in to manage and distribute the assets according to your instructions.

Customizing Your Revocable Living Trust At Warshofsky Law, we work closely with you to customize your revocable living trust to meet your specific goals. Whether you want to provide for your children, safeguard your assets from your beneficiary’s creditors, or to facilitate efficient estate manage, we will help you design a trust that reflects your wishes and values.

Secure Your Legacy with a Revocable Living Trust Considering a revocable living trust is an essential part of any comprehensive estate plan process. To discuss whether a revocable living trust makes sense for your needs, contact the offices of Jason Warshofsky at 305-446-1244 or email Jason at Jason@WarshofskyLaw.com to schedule a consultation.