Why a Revocable Trust in Lakewood Ranch Might Be a Good Option Circumstances and relationships in your life can change over the course of years. This can make estate planning seem complicated as you don’t want to set it up one way and later decide that was not the best way to do it. Revocable trusts can make it simpler. A revocable trust can be changed in part or in its entirety. The flexibility of this type of trust means you can change the beneficiary or any other part of the trust through a trust restatement or amendment. The ability to make changes like this is not the only reason to consider such a trust. Revocable trusts allow your beneficiaries to avoid going through probate as your assets held in these trusts pass directly to those you have named as your beneficiaries. These trusts also keep the assets listed in them private so the privacy of that part of your estate and the affected beneficiaries is protected. Any part of your estate that goes through probate becomes public record. A revocable trust also lets you plan ahead in the event you become unable to handle your own affairs by naming a disability trustee. This would prevent your care and estate disbursement from being taken over by a court appointed guardian or conservator. If you want to know if a revocable trust might be the best option for you, give us a call at 941-365-2253 to get a free consultation.
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