At King & King in Kaysville, UT, we can help you outline how you want your assets to be handled after you pass away by assisting you in creating a Revocable Living Trust.
A Revocable Living Trust is a legal document that instructs how your assets are to be handled if you become physically or mentally incapacitated and how they will be distributed when you pass away. Our Revocable Living Trusts also include Powers of Attorney for Health and Finances and a Living Will.
A will can only go into effect after you die, therefore, it doesn’t protect you if you become very ill. A will must first be verified by a probate court before it can be enforced.
When you set up a revocable living trust, you are the Trustor. As the Trustor, you retain control of your assets, allowing you to make changes to your trust at any time. When you enter into this contract, you also must name a trustee – the individual who will manage the assets in your trust.
Benefits of a revocable living trust:
If you are interested in preparing a revocable living trust, send us your contact information and we will forward a trust packet to you for your review.
If we have all of your information, the entire process takes about two weeks.
The best and only time to prepare and implement an estate plan is while you are alive and you have the legal capacity to enter into a contract.
The best time to prepare a revocable is now, while you have the capacity to do so.