Many people choose to create a revocable living trust as part of their estate plan. Living trusts may be created for different reasons, and they have several different advantages, including potentially reducing estate taxes, avoiding probate, and allowing for a trustee to manage one’s financial affairs in the event one becomes incapacitated.<\/p>\n
A living trust should be created with the assistance of a qualified estate planning attorney, and it should also be reviewed, along with the entire estate plan, on a periodic basis. Circumstances may change, and one should review an estate plan to make sure that it accurately reflects one’s wishes.<\/p>\n
One of the most important aspects to review is the identity of the trustee. Typically, for a married couple, the spouses will be co-trustees of each other’s trusts. However, the trust should also name a successor trustee to serve in the event the original trustee or co-trustee is not able to (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Many people choose to create a revocable living trust as part of their estate plan. Living trusts may be created for different reasons, and they have several different advantages, including potentially reducing estate taxes, avoiding probate, and allowing for a…<\/span><\/p>\n