What is the difference between an irrevocable trust and a revocable trust?

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When you create an estate plan, you have the option to include a revocable trust. Also known as a living trust, this document allows you to choose how your assets are distributed upon death. You can retain control of the trust while you are alive and even make changes if you wish. A revocable trust also protects you if you become incapacitated, allows your heirs to avoid probate, and so much more. Properly creating and funding your trust is vital. If you make a mistake, your loved ones might have trouble accessing their inheritance. Fortunately, R. Dustin MacFarlane of California Probate and Trust, PC has spent years helping seniors create trusts. As a top trust attorney, our team create customized legal documents for clients to ensure they enjoy all of the protections and benefits.

Benefits of a Revocable Trust

Many people visit a revocable trust lawyer so they can enjoy the benefits provided by such a document.

  • Avoid probate.
  • Choose someone to manage assets if you aren’t mentally competent.
  • Select how assets are distributed.
  • Determine who gets assets.
  • Maintain privacy regarding your estate.

Plan for the Future with a Revocable Trust Attorney

When you create an estate plan, you have the option to include a revocable trust. Also known as a living trust, this document allows you to choose how your assets are distributed upon death. You can retain control of the trust while you are alive and even make changes if you wish. A revocable trust also protects you if you become incapacitated, allows your heirs to avoid probate, and so much more.

Properly creating and funding your trust is vital. If you make a mistake, your loved ones might have trouble accessing their inheritance. Fortunately, R. Dustin MacFarlane of California Probate and Trust, PC has spent years helping seniors create trusts. As a top revocable trust attorney, he creates customized legal documents for clients to ensure they enjoy all of the protections and benefits.

Benefits of a Revocable Trust

Many people visit a revocable trust lawyer so they can enjoy the benefits provided by such a document.

  • Avoid probate.
  • Choose someone to manage assets if you aren’t mentally competent.
  • Select how assets are distributed.
  • Determine who gets assets.
  • Maintain privacy regarding your estate.

Amending A Revocable Trust

A revocable trust allows you to maintain full control over your assets during your lifetime, as long as you are of sound mind. Many people choose to amend a revocable trust after getting married, getting divorced, or having a child. You can also amend your trust if you want to change how the property is distributed or add or remove beneficiaries or property. Your trust lawyer will help you make all necessary changes, ensuring that it meets the legal requirements set forth by the state of California.

Add A Pour-Over Will To Your Estate Plan

Your revocable trust attorney might recommend a pour-over will along with the trust. If you overlook some of your assets and fail to put them in the trust, your executor can transfer them if this document is in place. While those assets will have to go through probate, they will be subject to the terms of the trust after the process is over.

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