A revocable trust directs the ultimate disposition of your assets upon your death, and for those clients with families, typically provides for the distribution of the assets among spouse and descendants or trusts for their benefit. The revocable trust should be structured so as to minimize both state and federal estate taxes as well as income taxes. Recent changes in the tax law have changed the way we structure trusts for many of our clients. In drafting revocable trusts, we also take care to incorporate non-tax provisions to account for each client’s special circumstances, family culture and values. If funded prior to your death, a revocable trust can avoid probate.
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