Revocable Trusts As A Will Substitute Discussed Today

Wills & TrustsAt today’s free legal seminar, there was quite a bit of discussion about using a Revocable Trust as a Will substitute.  Some of the reasons clients prefer a Revocable Trust were covered.  A top reason for choosing a Revocable Trust is when you own real estate in more than one State, to avoid your family having to go through multiple Probate proceedings in different State.  Another key reason to prefer a Revocable Trust over a Will is privacy.  Since the Trust is a private family agreement, you do not need to file it with the County or provide a public record of an inventory of your assets.  The general public does not have access to your Trust, unless there is a lawsuit involving it.  One person described her Trust as her “love box” because she has organized everything in advance for her children so they will know exactly what to do and how to carry out her wishes when she dies.  Planning your estate is truly a gift to your loved ones.

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