A revocable living trust is one of the most commonly used instruments in Estate Planning. The revocable living trust allows the trust makers to manage their assets during their life, without interruption, and creates a smooth transition of those assets to their estate and eventually to their beneficiaries without the cost, delay, or public intrusion of the probate process.

Usually, the revocable living trust also provides instructions for who should act on the trust maker’s behalf in the event of incapacity. With a revocable living trust, the trust maker has more options for restricting their heirs access to the estate after they pass.

For instance, it can restrict disbursements to a strict schedule of ages of the beneficiary or accomplishments (i.e. disbursement at 31 years old or disbursement if/when my heir graduates from college). It is also flexible enough to allow the trust maker to change it at any time during the trust maker’s life.

A revocable living trust is a great option for many clients. It is ideal for those looking to avoid probate, maintain their privacy, protect their minor children, or restrict access to inheritance (either by future spouses or creditors).