Living Trusts – Does a Revocable Living Trust Get Included in Your Estate?
Living Trusts – Does a Revocable Living Trust Get Included in Your Estate? Tuesday May 12, 2009 The answer to this question is a most definite yes. Why? Because even though the legal title to your assets changes when you fund them into your Revocable Living Trust, you’ll still retain beneficial ownership since you’re the beneficiairy of the trust. And as the beneficial owner of the trust property, your estate will be taxed on what is owned by your trust at the time of your death. So why use a Revocable Living Trust? For three reasons: • To keep you and your property outside of a court supervised guardianship or conservatorship. • To avoid probate of your property after your death. • To keep the details about your beneficiaries and what they’re inheriting a private family matter. • How Does a Revocable Living Trust Avoid Guardianship?<
