Revocable Living Trusts
REVOCABLE LIVING TRUSTS
Revocable living trusts in Florida are a common method for estate planning that can be used to decide who gets your property after you die.
If you are considering having a revocable living trust, the Law Office of John Vernon Moore can help you make sure that you have all of the facts concerning the advantages and disadvantages of these estate planning devices so that you can make an informed decision.
What is a Revocable Living Trust?
A revocable living trust is like a simple will, also known as a living trust, since it specifies how your assets will be distributed after you pass away. There, the similarities end. After your death, revocable trust is arguably a safer way to manage your estate. It is recognized as a “revocable trust” since the grantor may at any time change its terms. If the grantor wishes, revocable living trusts may also be terminated.
One important benefit of a living trust is that you are able to avoid the probate process associated with a Simple Will. That takes place in state courts when a will passes through the probate process, and court records are normally public. Your information stays out of the public eye by preventing probate, and your family maintains its privacy in your personal affairs. And, by using a revocable living trust, larger properties will potentially save on federal estate taxes..
A Florida Revocable Trust or Florida Living Trust may be changed as the conditions change while you are alive. Revocable trusts or Florida Living Trusts are also formed over your lifetime to control assets and allocate the assets equally or as you want upon your death. They also avoid Florida probate fees, can decrease taxes, and upon your death, keep your financial matters private which make them an excellent choice for the residents of Florida.
Revocable Trust Attorneys In Melbourne, Florida
If you are considering creating a revocable living trust or taking other steps to plan your estate, contact the Law Office of John Vernon Moore to work with us and have a discussion regarding your estate plan.
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