We have previously discussed the advantages of using a revocable trust to implement your estate plan. In this post we will discuss in greater detail the advantages of ease of administration, flexibility in valuation, discretion in the management, and lower cost. These advantages can be best understood by comparing the probate process to the administration of the typical revocable trust.
First and foremost, the administration of the revocable trust is much more efficient because accounting for the activities of the trust can be managed through the cooperation of the trustee and ...
One of the issues attorneys assess in evaluating an appropriate estate plan for a client is whether a revocable trust, also known as a living trust, is the best vehicle for implementing the client's wishes. The revocable trust is frequently used with a Last Will and Testament to direct assets to intended beneficiaries but may also minimize the expense and delays of the probate process. A revocable trust does not change the disposition of the estate, but in many cases the trust is a more efficient path to achieve the transfer of assets.
As with all legal issues, many factors play a role in this ...