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 appreciated planning tool.
Your revocable living trust can do many things for you.
For example, your trust can:
Organize your assets
Your trust is not a magic book. It needs help.
You need to update your trust (and your entire estate plan) every three to five years or upon the occurrence of a significant life occasion (i.e. divorce, remarriage, death, relocation, etc.)
If you have questions about the revocable living trust, what it can do for you, and what you require to do for it, seek advice from a qualified estate planning attorney.