Revocable Living Trust
The most important thing to know about a revocable living trust is that it will pay for itself. By creating, funding, and maintaining a revocable living trust, we guarantee you will save thousands of dollars at the time of your death. This is because all assets not in trust when a person dies are subject to probate.
The average cost of probate is 5 to 7% of the total value of your estate. If your estate is worth $60,000 or more, the probate fees exceed the cost of a revocable living trust. The high price of dying is enough to make you consider implementing one. The additional benefits available with our trust agreement, the Family Fortress Dynasty Trust (FFDT), are enough to make you regret not having one.
A revocable living trust is a device that enables you to relinquish your property without giving up any control. As the grantor, you give your assets to the trustee, who may also be you, to hold and manage for your benefit. The trust may be revoked and dissolved at any time prior to the death of the grantor. This maneuver is the foundation upon which the trust agreement is based. The rest of the trust agreement is designed to deal with all possible situations in the most cost-effective manner while ensuring that your wishes are carried out.
The backbone of your plan:
The revocable living trust is the backbone of any good estate plan. The quality of the estate plan is directly related to the foundation upon which it is built. That is why we have put so much time and effort into thinking of contingencies and planning for them. It is very important to remember that having trust is critical, but it is not enough to disinherit the IRS and frustrate predator creditors. If your estate is greater than the estate tax exclusion, you need to reduce your estate to avoid 60% taxation. Gifting may eliminate this liability. A lawsuit may wipe you out in one shot if you have a business. Choosing the best business entity for its function in your estate plan may eliminate or significantly reduce this exposure. There are countless legal maneuvers that may assist your situation. All we need is your desire to accomplish the goals.