Have you ever thought about a Revocable Trust?

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I had a friend at work the other day ask why we have our home and rental houses titled in a Trust vs just our names.  I told her that it helps to have the Trust own the property and then my wife and I are owners of the Trust with our kids as beneficiaries.  This allows them to inherit our estate without all the problems of going to Probate court and so on.  Ours is a living Revocable Trust.  If you want to protect your assets a little stronger look into a Irrevocable Trust. 

By no means am I a legal expert or lawyer.... but here are some articles on this which covers more than I did.  I found this article "Revocable vs. Irrevocable Trusts" by Julie Garber at about.com and this article "Protect Your Assets With A Trust" at Axa Equitable to be very informative.

 

 

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Image of Living Trusts for Everyone: Why a Will is Not the Way to Avoid Probate, Protect Heirs, and Settle Estates
Author: Ronald Farrington Sharp
Publisher: Allworth Press (2010)
Binding: Paperback, 160 pages
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