Trusts have actually been around for centuries. They’ve actually been utilized longer than wills have actually been utilized.
The revocable living trust gained much appeal in the 1970s and continues to be an extremely respected planning tool.
Your revocable living trust can do numerous things for you.
For example, your trust can:
Organize your assets
Your trust is not a magic book. It needs help.
You require to upgrade your trust (and your whole estate plan) every 3 to 5 years or upon the event of a significant life event (i.e. divorce, remarriage, death, relocation, and so on)
If you have concerns about the revocable living trust, what it can do for you, and what you need to do for it, seek advice from with a competent estate planning attorney.