Trusts have actually been around for centuries. They’ve in fact been used longer than wills have been utilized.
The revocable living trust gained much appeal in the 1970s and continues to be an extremely respected planning tool.
Your revocable living trust can do lots of things for you.
For example, your trust can:
Organize your assets
Your trust is not a magic book. It needs help.
You require to update your trust (and your entire estate plan) every 3 to five years or upon the event of a significant life event (i.e. divorce, remarriage, death, move, etc.)
If you have concerns about the revocable living trust, what it can do for you, and what you need to do for it, seek advice from a competent estate planning attorney.