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Dorothea J. Kingsbury Estate Planning & Probate Attorney

Revocable living trusts as an estate planning tool

Many Cleveland area residents understand the value that estate planning can bring. Knowing how a person's assets will be distributed upon their death can offer them peace of mind. A person can also feel like they are in control of their estate and can arrange things exactly as they feel fit.

A revocable living trust is one of the most popular estate planning tools. Most people want their estate to avoid probate upon their death and this is a good way to ensure that happens. Upon a person's death, their property is transferred quickly and quietly, without the general public knowing what is going on. Assets including property, bank accounts and investment accounts are transferred into a trust where they are managed by a trustee. A revocable living trust can be changed or canceled at anytime while the person is still alive.

There are many benefits to a revocable living trust. The main benefit is that a family avoids probate after a person's death. Also, if the trust creator becomes incapacitated, the trust will be able to provide for them. A revocable living trust is also private and has no public record. It also offers the creator greater control over the manner and timing of payments from the trust. It is also easier to create and change as necessary.

There are many important aspects of an estate plan. An attorney who specializes in estate planning can advise their client on the options that would work best for the family and their unique situation.

Source: estate.findlaw.com, "Revocable living trust", accessed on Dec. 7, 2017

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I am attorney Dorothea J. Kingsbury. I provide good advice and real solutions to challenging problems. I can help you choose and personalize estate planning instruments that meet your family's present and future needs. I can develop elder law strategies that ensure proper care for your loved ones. I can guide you through the probate/estate administration process when a family member has passed away. I can help make sure your interests are protected during your real estate transaction. I am here to make things easier.

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