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Showing posts from December, 2015

Revocable Living Trusts

Many folks are interested in forming revocable living trusts as a part of their estate plan, and many others are interested in selling revocable living trust kits.  Here’s what you should consider if you are wondering if this estate planning tool is right for you:
Where do you live?  One of the highlights of revocable living trusts is they are designed to avoid probate.  If you live in Texas, the probate process is relatively simple, allowing for an independent administration of assets which typically only requires one short court visit.  In states like this, forming and administering a revocable living trust would generally be more of a hassle (and often more costly) than the probate process itself.  If you live in a state that only has dependent administrations, a revocable living trust may be more beneficial to you.What types of assets do you have?  Some assets can be titled in such a manner that they avoid probate without the n…