Nashville Revocable Trust Lawyer
Establishing a Revocable Trust in Estate Planning
When planning an estate, it may be beneficial to establish a revocable trust. This is a form of trust that once established, can be amended or even revoked if you choose to do so. The goal is to arrange your estate in such a manner that those you live have the least amount of trouble with regard to undue taxation, as well as the opportunity to avoid probate. When you establish a revocable trust, the person you choose will get the property in the trust upon your death. Once the trust is established, property is transferred into the trust. In the case of real estate, the property must be retitled so that the trust now owns it, and these documents must be drafted and filed correctly.
Revocable Living Trusts and Estate Planning in Nashville
A revocable living trust names the beneficiaries you designate to own the assets and property you have transferred to the trust upon your death. This allows your heirs to gain the assets you have placed in the trust when you pass away, rather than being forced to wait while your will goes through the probate process. There are other significant benefits in establishing a revocable living trust, including that it could be far more difficult for a court challenge to your estate to be successful. A revocable trust can be established with specific directions to make the trust irrevocable (cannot be altered or revoked) should you become incapacitated in the future, for further protection.
I am attorney, David Whittaker, and I have over 10 years of experience in drafting revocable trusts for my clients, and this may be the right option for you in your estate plan, based upon your financial situation, and the number of assets that you have accrued over your lifetime. Every person and couple is unique, and it is important that you get advice from a highly skilled and experienced Nashville trust attorney when considering any type of trust as part of an estate plan. You need to ensure that you understand all about revocable trusts, and I will show you all of the options that could benefit you, and the plan that would best protect those you love and care about.
Contact my firm today for more information about revocable trusts, and how establishing such a trust could be of benefit to you.