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A revocable living trust is a trust that can be created during one's lifetime, which can be cancelled, revoked or amended at any time. A revocable living trust has assets such as real property, stocks, bank accounts and brokerage accounts, with the name of your trust.
A revocable living trust is a complex legal document that is more costly to establish than a will and carries higher expenses after death. Revocable living trusts require more monitoring to make sure that assets remain in the trust. Revocable trusts also carry tax rules that do not typically apply to probates. A Revocable Trust offers the trustor the option to change the trust at anytime, unlike an Irrevocable Trust.
An estate planning lawyer can help you handle a revocable living trust, especially in the situation where you become incapacitated after the trust is established. An estate planning lawyer can also help prepare and implement your revocable living trust.
Estate planning lawyers understand the complexity of revocable living trusts. If you need an experienced estate planning lawyer, contact Attorney Search Network today. We can help you find an estate planning lawyer to assist you with revocable living trust issues.
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