Estate Planning: What Is a Revocable Trust? - ElderLawAnswers
Dec 13, 2019 · Revocable trusts are an effective way to avoid probate and provide for asset management should you ever lose capacity. In addition, revocable trusts – sometimes called “living” …
Estate Planning: Funding Your Revocable Living Trust
Oct 9, 2025 · A revocable living trust is a valuable estate planning tool that helps manage finances during life and incapacity and provides financial security for loved ones after death – primarily by …
Will a Revocable Living Trust Reduce Your Estate Tax?
Oct 1, 2025 · A revocable living trust doesn’t automatically reduce your federal estate taxes. The main ways to reduce estate taxes, such as giving to your spouse or to charities, work whether or not you …
Why and How to Change an Irrevocable Trust
Feb 4, 2026 · Many people create revocable living trusts as part of their estate plan to manage their accounts and property smoothly, avoid the court process known as probate, and make life easier for …
Understanding the Common Types of Trusts - ElderLawAnswers
May 16, 2024 · Revocable trusts are generally used for the following purposes: Managing and protecting assets: Revocable trusts permit the named trustee to administer and invest the trust property for the …
Living Trust vs. Irrevocable Trust: What's the Difference?
Revocable Trust vs. Irrevocable Trust: Differences in Structure Once you establish an irrevocable trust, you cannot cancel or revoke it. The person creating the trust, sometimes called the “grantor,” …
You May Need a Revocable Trust With Your Power of Attorney
Jan 23, 2024 · To determine whether a revocable trust is right for your situation, work with a qualified attorney. Search for an estate planning attorney near you today. For further reading on these types …
How to Use a Trust in Medicaid Planning - ElderLawAnswers
Nov 22, 2023 · A revocable trust is one that may be changed or rescinded by the person who created it. Medicaid considers the principal of such trusts (that is, the funds that make up the trust) to be assets …
What Is a Gun Trust?: Estate Planning Q&A - ElderLawAnswers
Jul 27, 2023 · A gun trust, also known as a firearm trust or NFA trust, is a legal entity created to hold and manage guns. Creating a gun trust can help you pass down your gun to your loved ones, shielding …
Should I Have My Trust Own My Life Insurance Policy?
May 28, 2024 · If I create a living trust, should I reassign the ownership of my life insurance policies to the living trust? I think I need to at least change the ben...