At the Socius Law Firm, we think a Revocable Living Trust is like a bucket. You create the bucket, put “stuff” in the bucket, you carry around the bucket and can add or remove what you put in the bucket at any time. If you become incapacitated or pass away, the bucket is handed to someone else who you trust to carry around and manage the bucket according to your instructions…
A Revocable Living Trust is the foundation of the modern estate plan. When properly drafted, a Revocable Living Trust is an estate planning tool that allows you to control how your assets are managed and used while you are alive and well, if you become incapacitated, and after you die – all without the costs, delays and publicity associated with the probate process.
A Revocable Living Trust can also be used to minimize or eliminate estate taxes upon your death, and to safeguard your assets from your loved ones’ financial immaturity, their creditors and judgment debtors, their possible bankruptcy, and even their potential future divorces.
