Should you establish a revocable living trust? What is a revocable living trust and how does it work? Keep reading for answers, and to learn more, or to set up a revocable living trust, speak to a Long Beach trust attorney at Barilari & Williams.
A revocable living trust is a legal document and a financial tool that ensures that after your death, your assets will go to the right person or persons. Setting up a revocable living trust is the way to ensure that your family will be secure financially after you’re gone.
Who Should Consider Establishing a Revocable Living Trust?
Not everyone needs to establish a revocable living trust. If your finances are modest, a will alone may be adequate for your needs. Even so, you may want to consider the benefits that a revocable living trust offers.
A revocable living trust lets you determine how your assets are managed while you’re alive – and after you die – but is a revocable living trust right for you? That answer depends on your personal, family, and business circumstances.
A Long Beach trust attorney at Barilari & Williams can review your situation and tell you if a revocable living trust is the right planning option.
How Does a Revocable Living Trust Work?
A revocable living trust lets you give control of certain properties and assets to a trustee you have designated. While you’re alive, you may be your own trustee if you choose. You may move real estate, stocks, bonds, mutual funds, cars, boats – almost any property or asset – to the trust.
A revocable living trust also lets your beneficiaries avoid probate. Probate is the legal process of inventorying and evaluating an estate’s properties and assets, paying the estate’s taxes and debts, and distributing what’s left of an estate to the decedent’s beneficiaries.
Privacy is yet another benefit of a revocable living trust. Probate becomes a part of the public record, but a revocable living trust generally protects your financial and business affairs and keeps them private.
How Will Barilari & Williams Help You?
A Southern California trust attorney at Barilari & Williams can help you set up a revocable living trust that protects your assets and offers genuine security to your loved ones. Your attorney can help you with:
- writing the terms of your revocable living trust and the instructions for your trustee
- choosing which properties and assets you should transfer to the trust
- choosing a trustee to manage the assets and properties after you pass away
- determining the best method of distributing assets to minors or special needs beneficiaries
An estate planning attorney at Barilari & Williams will be familiar with the full range of your options and will customize your revocable living trust so that it’s effective, right for you personally, and fully compliant with state and federal law.
There is No Cost for Your First Consultation With Barilari & Williams
When you plan for the future, you must have high-quality, reliable legal guidance. The trust attorneys at Barilari & Williams have over a decade of combined experience providing estate planning advice and services to our clients in Southern California.
An attorney at Barilari & Williams can prepare a revocable living trust for you that is effective, clear, and precise. To learn more about revocable living trusts, or to set up a revocable living trust, call Barilari & Williams at 888-EST-PLAN for your free first consultation.
