Why Some Families Regret Not Creating a Revocable Trust Until It’s Too Late
Most people think a will is enough. It’s not, especially when your family is left sorting through court filings, unexpected delays, and costly legal fees after you're gone.
A revocable living trust is one of the most powerful tools in estate planning, offering flexibility during your lifetime and simplicity after your death. Unlike a will, a revocable trust allows your chosen trustee to manage and distribute your assets without court intervention. That means no probate. No waiting. No confusion.
What is a Revocable Trust?
A revocable trust—sometimes called a “living trust”—is a legal entity you create during your lifetime. You, as the grantor, can move assets into the trust and still retain control over them. You can amend it, revoke it, or change your beneficiaries at any time. Upon your death (or incapacity), the trust becomes irrevocable, and your successor trustee steps in to handle your affairs—privately, and often far more quickly than a probate proceeding allows.
Why Choose a Revocable Trust?
Avoid Probate: Assets in the trust bypass the public probate process.
Privacy: Wills become public record; trusts remain private.
Control: You can specify exactly how and when your assets are distributed.
Incapacity Planning: A trust can provide a seamless way to manage your affairs if you become unable to do so.
What Assets Go Into a Revocable Trust?
Typically, your home, investment accounts, bank accounts, and even business interests can be titled in the name of your trust. But a trust only works if it's funded properly. That’s one of the biggest mistakes people make—creating a trust and forgetting to move assets into it.
Is It Right for You?
A revocable trust isn’t just for the wealthy. It’s for anyone who wants to make things easier for their loved ones and keep control over how their assets are handled. If you own real estate, have children, or just want to spare your family a legal headache, this tool deserves your attention.
Next Steps
If you're curious about whether a revocable trust is right for you, call us at 516-570-4016 or schedule a conference here. Every family is different, and a well-drafted plan can make all the difference when it matters most.
