 Most people, if asked, would like to avoid having their
estates go through the process called probate, due to the expense,
time delay attributable to various notices and waiting periods,
paperwork required to be filed with the court, and potential court
hearings. A Will, while a very good tool for some people, does
not avoid probate.
A Revocable Living Trust is one tool that can help you avoid
these complications. When a Revocable Living Trust is used,
the person creating the Trust (generally referred to as
Trustee, Grantor or Settlor) retitles assets in the name of the
Trust. Even though the assets are transferred into the trust,
this Trustee still has the right to manage the assets of
the Trust without Court intervention. For example, instead of
owning my home as Gary Bolenbaugh, the name on the deed (or title,
account, or security) is changed to the "Bolenbaugh Trust dated
September 4, 1999." When I go to sell that asset (which I
maintain the right to do) I simply sign as Gary Bolenbaugh,
Trustee.
A Trust works well for both single individuals and married
couples.
Irrevocable Trust:
An Irrevocable Trust can provide these benefits as well as
additional tax minimizing and avoidance benefits. The drawback
to an Irrevocable Trust is that the Grantor does not maintain
control over the assets during his/her lifetime. Additional
information on this form of Trust can be discussed at the initial
consultation. | 
