With a Revocable Living Trust, you transfer the title of any of your assets (such as a house) from yourself as an individual, to yourself as Trustee of the Trust.
Then you, as the Trustee of the Trust, manage the assets of the Trust for the benefit of the beneficiary, which is you. In this manner, you keep complete control over the assets.
Once you pass on, a Successor Trustee takes over the management of the asssets for the benefit of the beneficiaries that you named in your Trust. Your assets do not have to pass through
Probate because the assets are no longer titled in your name as an individual, but are now titled in the name of the trust.
Upon your death, the Successor Trustee simply transfers your assets directly to your beneficiaries without the need for court or attorney's fees or costs.
With a Revocable Living Trust you keep complete control over your assets and ensure that your assets
are passed to youe designated beneficiaries without delay or unnecessary costs.
If you are considering having a Living Trust created for you or your family, we recommend that you first read this article about Estate Planning Fraud before you select who will assist you with your needs.
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