Scott and Scott, P.A., Routinely Drafts Revocable Living Trusts
A Revocable Living Trust can help clients minimize the costs associated with probate, and/or avoid probate altogether. In this estate planning device, the client transfers his or her assets into a trust while they are still alive, and the assets contained within the trust are distributed pursuant to the terms of the trust agreement following their death. The client retains the right to change their mind and revoke the trust at any time. If properly funded, a Revocable Living Trust can frequently avoid the probate process altogether, and save the thousands of dollars in attorney‘s fees frequently associated with the probate process. As a precaution, the client also executes a short Pour–Over Will to transfer any assets acquired after the execution of the Revocable Living Trust (and never properly transferred thereto) into the trust following their death.
A Revocable Living Trust is generally viewed as an alternative to a Last Will and Testament as an estate planning device. We generally prepare Revocable Living Trusts on a flat fee basis. The basic Revocable Living Trust package includes, among other things:
- The Revocable Living Trust
- An Assignment of Personal Property
- A Pour-Over Will
- A Certification of Trust document
- Funding Instructions
- Personal Property Memorandum
Start Your Estate Planning Today
Call 410-398-0611 to schedule an appointment to discuss your estate planning needs and what type of trust is best suited for your family’s needs. You can also reach our office in Elkton by emailing us.