A revocable living trust (“RLT”) is the center piece of most properly planned estates. A RLT is created when a trustor (also known as grantor or settlor) gives assets to a trustee for the benefit of the beneficiary of the trust. This is true for any and all types of trust. A revocable trust means that the terms of trust can be changed at any time. Also, with the vast majority of revocable trusts, you, the client, fill all three roles (trustor, trustee, and beneficiary). This keeps you in full control of your assets. When a revocable trust is properly and fully funded, it will avoid probate, enabling your family and loved ones to administer your estate without the bureaucracy and oversight of the State’s probate court system.
Further, a revocable trust is effective as soon as it is signed – this means that if you became incapacitated (mentally, like with Alzheimer’s, or physically), the person you have selected to manage your affairs will step in as trustee. This removes the need to have a court appoint a guardian and/or conservator – once again, removing the State’s court system from your family and affairs.
Not every revocable trust is the same. The language that goes into each trust is important to ensure your goals are met, your values preserved, and ultimately, your Legacy stays intact. We provide you with the peace of mind knowing that your goals will be met, and your family will be taken care of.
Our mission at Waters, Tyler, Hofmann & Scott, LLC, is to provide quality legal services for our clients in Indiana and Kentucky.
Our objective is to employ state-of-the-art technology in conjunction with a highly-informed staff of lawyers, paralegals and legal secretaries to provide clients maximum economy and efficiency while insisting on the highest standards of confidentiality and professionalism.