Building Your Revocable Living Trust

• Revocable Trusts, also known as "Living Trusts," are often used as a means of avoiding probate upon your death, and avoiding guardianship of the property upon your incapacity, diminished capacity, or disability. 
  
  
• Trusts were originally developed in England hundreds of years ago as a part of the development of the law of property.  The concept and practice of using trusts was imported to the colonies, and is well established and respected under both case and statutory law in Florida.
  
  
• While not necessary or appropriate for all clients, many of our clients find that a revocable trust allows greater protection and flexibility than traditional will planning. In fact, special protective provisions, known as "dynasty provisions" or "personal asset trust provisions" can be used effectively to address issues raised by the "5 D's," namely the death, disability, dependency, dissolution of marriage, or (excessive or severe) debts of one of your named beneficiaries.
  
  
• In addition, it is very easy to plan for estate taxes using either separate revocable trusts for each spouse, or a joint revocable trust for both spouses.  Both single and married adults should consider and discuss the use of this planning technique with one of our attorneys.

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