Revocable living trusts are powerful documents that allow people to discretely pass down property to beneficiaries without the hassle and expense of probate. While you may thing that revocable living trusts are only important for people with a substantial amount of assets, the fact is that having the protections of revocable living trusts in place is important regardless of whether you may or may not have significant assets.
This is because, upon the passing of the trustee (i.e., the person who created the revocable living trust), the assets of the trust can be immediately transferred to the appropriate beneficiaries instead of being tied up in court and facing the threat of having to be sold off to pay probate costs and other fees.
At JR Phillips & Associates, PC, our Centennial living trusts lawyers are experienced at assisting people in the development of comprehensive revocable living trusts and helping them amend these trusts as their circumstances and wishes may evolve. We can help you develop an effective revocable living trust that will appropriately manage your assets while protecting your loved ones in the future.
Benefits of Revocable Living Trusts
While there are a number of different tools and documents that can be used to cover your estate planning needs, some of the benefits of developing revocable living trusts include that these documents:
- Will remain private
- Will minimize the court’s involvement in the management and distribution of your assets after you pass
- Will minimize the chances that there will be a future dispute over your estate
- Allow you to revise your living trust as you see fit at any point in the future
- Enable you to avoid a conservatorship in the future
- Empower you to name beneficiaries and leave assets to your loved ones.
Keep in mind that these are not the only benefits to revocable living trusts and that there may be other specific advantages for you, depending on your situation, needs and wishes.
Denver Living Trust Attorneys at JR Phillips & Associates, PC
When you are ready to develop a revocable living trust or to alter the terms of an existing revocable living trust, you can turn to the living trust lawyers at JR Phillips & Associates, PC. We provide a thoughtful, comprehensive approach to our clients’ estate planning, elder law and other legal needs, and we take pride in helping each of our clients and their families find the best solutions for them.
Our Centennial living trust lawyers are skilled at using a variety of traditional and innovative approaches to develop solutions that are perfectly tailored to our clients’ needs and objectives. Our goal is to help our clients efficiently navigate the complexities of the law so they can develop effective, prudent solutions that will protect them, their assets and their families in the future.
Let’s discuss your options during an initial consultation. To schedule this meeting, call us at (303) 741-2400 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village and Englewood.