REVOCABLE LIVING TRUST
Having a will is an excellent idea, and it is a critical necessity if you have minor children who should have guardians named for them, but by itself it does not avoid probate, a major cost of settling your estate.
If you transfer all of your assets into a revocable living trust, there is nothing for a probate court to administer, and if you and your spouse have both died the marital home can be disposed of without a court order or posting a bond. This guarantees that your estate does not become public knowledge. Instead of six months or more of litigation, your estate can be settled in a few weeks.
During your life, you can sell any of your property without any complications, and you can amend your trust without collecting the witnesses that are required for changing your will. You can name an adult child as the successor trustee, saving the $50 of $100 each year that would be charged by a bank for serving as trustee.
If you have to have a will because of your children's age, you can use the will to "pour over" most property into your trust so that probate is still minimized.
Services provided with the revocable living trust include:
Revocable Living Trust (Standard)
A-B Marital Living Trust (Optional- used if your estate exceeds $675,000.00.)
Power of Attorney for Health Care.
(Living wills to establish guidelines for medical treatment in case of incapacity.)
Durable Power of Attorney for property.
Quitclaim deed to put your family home and other real estate into the trust.
Indefinite private storage of a copy of your trust documents.
Pricing: Revocable living trust for estates under $675,000.00 $675
For estates over $675,000.00 $1000
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