Frequently Asked Questions
LIVING TRUST vs. WILLL
This page provides answers to some of the most common questions about our services at THE LIVING TRUST DOC PROS. Whether you're interested in Custom Revocable Living Trusts, Estate Planning, or Asset Protection, our FAQ section aims to provide clarity and assist you in making informed decisions.
What is a Revocable Living Trust?
A Revocable Living Trust is a legal document that allows you to place your assets in a trust during your lifetime, while still maintaining control and the ability to make changes or revoke it as needed.
How does a Revocable Living Trust differ from a Will?
A Revocable Living Trust bypasses the probate process, providing quicker distribution of assets, maintaining privacy, and potentially reducing legal costs compared to a Will.
Can I change or revoke my trust after it's created?
Yes, one of the primary benefits of a Revocable Living Trust is that you can make changes or revoke it entirely at any time as long as you are mentally competent.
Is a Revocable Living Trust only for the wealthy?
No, a Revocable Living Trust is a useful tool for individuals at all wealth levels who want to manage their assets, avoid probate, and ensure a smooth transition of their estate.
What happens to my Revocable Living Trust after I pass away?
After your passing, the trust becomes irrevocable, and the designated trustee will manage the distribution of your assets according to your specifications without going through probate.
Why should I choose a Custom Revocable Living Trust?
Choosing a Custom Revocable Living Trust ensures that your specific needs and preferences are addressed, providing tailored solutions for asset distribution, tax minimization, and protecting your beneficiaries.
What are the benefits of Estate Planning?
Estate Planning helps you organize your assets, reduce taxes, avoid probate, and ensure that your wishes are carried out efficiently after your passing.
What types of assets can be placed in a Revocable Living Trust?
You can place a variety of assets into a trust, including real estate, bank accounts, investments, personal property, and more, to ensure comprehensive protection and management.
How do I get started with creating a Custom Revocable Living Trust?
Contact us to schedule a consultation where we will discuss your needs, preferences, and goals to create a personalized trust plan that suits you best.
Do I need an attorney to set up a Revocable Living Trust?
While it's possible to create a trust without legal assistance, working with our experienced professionals ensures that your trust is properly drafted and fully compliant with state laws.
Ready to Secure Your Future?
Contact us today to schedule a consultation and start building your Custom Revocable Living Trust.