ARE THERE ADDITIONAL BENEFITS TO A REVOCABLE LIVING TRUST?
In addition to probate avoidance and planning for your potential incapacity, a revocable living trust offers several further benefits. 1. A revocable living trust can significantly reduce potential estate taxes for married couples. 2. Depending on your wishes, a revocable living trust permits you to specify at what age and in what amount your beneficiaries shall receive their distributions upon your passing. This can be a valuable tool if a beneficiary, in your opinion, is not mature enough to manage their share of your trust estate due to age or financial problems. For example, you might specify that a particular child is to receive ¼ of their share at age 24, ½ of their remaining share at age 28, and the remainder of their share at age 32. Until that particular beneficiary attains the required ages, their share is managed for them by the successor trustee. 3. A revocable living trust may be amended (changed) or completely revoked (cancelled) at any time during the lifetime of the cre
