FAQs

1. What is a Revocable Trust and how does it differ from other types of trusts?
A Revocable Trust is a legal arrangement that allows you to manage your assets during your lifetime and dictate how they will be distributed after your death, with the flexibility to modify or revoke it at any time.

 

2. Why should I consider a Revocable Trust instead of a will?
While both a will and a Revocable Trust outline how your assets are distributed, a Revocable Trust avoids probate, offers more privacy, and allows for better management of your assets during your lifetime if you become incapacitated.

 

3. How do I fund a Revocable Trust, and what assets can be included? 
Funding a Revocable Trust involves transferring ownership of your assets—such as real estate, bank accounts, investments, and personal property—into the trust. We’ll discuss which assets are best suited for inclusion and how to properly transfer them.

 

4. Can I change or cancel a Revocable Trust after it’s set up?
Yes, one of the main benefits of a Revocable Trust is that you can modify or revoke it entirely at any time, as long as you are mentally competent. We’ll cover the process and implications of making changes.

 

5. Will a Revocable Trust help me avoid estate taxes?
A Revocable Trust does not directly avoid estate taxes, but it can be structured to help minimize tax liabilities. We will explore strategies to reduce tax burdens through careful trust planning.

 

6. What is the role of a trustee, and how do I choose one? 
A trustee is the person or entity responsible for managing and distributing the assets in your trust. We’ll guide you through the responsibilities of a trustee and offer advice on how to select the right person or institution.

 

7. How does a Revocable Trust protect my assets if I become incapacitated?
In the event of your incapacity, the appointed successor trustee can step in and manage your assets according to your instructions without the need for court intervention. We’ll discuss the importance of planning for incapacity.

 

8. Do I still need a will if I have a Revocable Trust?
Yes, a will is still necessary to handle any assets not included in the trust and to appoint guardians for minor children. We’ll explain how a "pour-over" will complements a Revocable Trust.

 

9. What are the costs involved in setting up and maintaining a Revocable Trust? 
We’ll provide a breakdown of the potential costs, including legal fees, administrative costs, and ongoing maintenance, and explain how these compare to the costs of probate or alternative estate planning methods.

 

10. Can a Revocable Trust help me protect my assets from creditors or lawsuits? 
Generally, a Revocable Trust does not provide asset protection from creditors while you are alive, but we will cover unique strategies that utilize a revocable trust to  help safeguard your wealth.

 

REFUND POLICY:

***WE DO NOT ISSUE REFUNDS , WE CAN APPLY FUNDS TO ANOTHER PROCESS***