Even though we may want our children or grandchildren to inherit our money and property, they will not necessarily inherit more intelligence, maturity and responsibility. Sometimes our loved ones need guidance or protection from themselves. With effective estate planning you can accomplish this goal and more.
A trust is essentially a legal agreement created by you in which a person or institution called the “Trustee” holds legal title to your property for the benefit of others (called your “beneficiaries”). With a revocable living trust YOU are the initial Trustee and beneficiary. This means that until you die or become incapacitated YOU retain total control over all of your assets and property. Some of the main benefits to having a trust include the following:
For more information about the Revocable Living Trust, or to schedule an appointment, contact LEO D. NEVILLE at (734) 425-6340.