Estate Planning Lawyer Sarasota | |
Free Online Advertising Free Internet Web Site Advertising. UK Free Classifieds United Kingdom Free Ads Website. 100% Free Ad Posting. Canada Free Ads Popular Online Classifieds in Canada. No Sign up, No Email Required to Post. There are many types of trusts, each serving a different purpose. The most common trust created as part of an estate plan is the living Revocable Trust. This type of trust is very versatile as the creator is the settlor (creator), a trustee (manager), and a beneficiary (enjoyer) during their lifetime. Once the settlor passes away or becomes incapacitated, the trust becomes irrevocable, and the successor trustee next in line is in charge of making sure all of the assets of the settlor go into the trust. A living revocable trust is usually accompanied by a special will called a "pour-over will." This type of will instructs the trustee to make sure any assets go into the trust if they did not get into the trust during the settlor's lifetime. One of the major benefits of a living revocable trust is that the probate process is avoided for most assets, as they are distributed to the beneficiaries through the trust and not a will. It is a fast, efficient, and inexpensive way of ensuring your assets get to your beneficiaries after your death. If you are interested in learning more about a living revocable trust, contact us for a free consultation to discuss your situation specifically. | |
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