Estate Planning–Revocable Trusts
A revocable living trust allows the maker of the trust (Settlor) to make changes to the trust during his or her lifetime. A revocable trust usually directs the trustee to pay all income to the Settlor for life and pay the trust assets to the main person after the Settlor’s death. Revocable living trusts often avoid a lengthy probate process but they don’t necessarily shelter assets from federal or state taxes. If you have a revocable living trust which holds title to your home, care must be taken to check with your county tax department to make sure you are... Read More