James A Wickre Attorney

James A Wickre Attorney
Let me help you develop an estate plan that fits your needs.

Monday, February 23, 2015

Revocable Living Trusts

Many of my clients tell me the reason they are doing a Revocable Living Trust is their last parent just died and they had a trust and it made things so much simpler in handling their final affairs. On the other hand, I also get clients who want to do a trust because they just got done probating their parents' estate and they don't want to put their children through that process.

Regardless of the reason, my clients are very happy that I do most trusts and wills on a flat fee basis.  There is no "meter" running! That way clients feel more comfortable asking more questions and not feeling rushed in developing an estate plan that fits their needs.

If you own real property worth more than $200,000 (not your equity but the fair market value of the land) you should explore a Revocable Living Trust.

If you are concerned as to who will handle your financial affairs if you have an extended illness, then you should explore a Revocable Living Trust.

A "Revocable" (you can change it) "Living" (you establish it while you are alive) "Trust" (your property is held in trust for your benefit) allows you to avoid probate and plan for any potential incapacity without going to the expensive, bureaucratic and slow state court system for probate or a conservatorship.


1 comment:

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