A REVOCABLE LIVING TRUST based estate plan provides instructions that will allow you to:
- Control your property while you are alive
- Take care of you and your loved ones in the event of disability
- Pass your property to your heirs when and how you want while maintaining privacy
- Ensure that you and your spouse have sufficient assets to maintain your standard of living now and in retirement
- Maintain maximum control and flexibility during your lifetime
- Provide for you in the event you become disabled
- Simplify administration as much as possible upon your death or disability (avoiding probate&guardianship)
- Avoid having your private matters being made public unnecessarily
- Ensure that the efforts you desire are used to save your life
- Have your property continue to benefit the survivor after one of you dies
- If married, protect your assets so that they cannot be lost as a result of remarriage after the death of one of you
- Ensure that the persons you select in fact become the guardians of your minor children
- Protect your children’s or grandchildren’s inheritance from mismanagement
- Structure your children’s or grandchildren’s inheritance in such a way that it installs values and virtues
- Educate your children and grandchildren
- Reduce the risk of litigation from heirs who receive less than they think they are entitled to
- Minimize income taxes to the extent possible
- Avoid or minimize capital gain tax on the sale of assets
- Eliminate as much estate tax as possible