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Add Security and Efficiency With a Revocable Trust

Beyond standard will preparation, Legacy Law Trust & Estates, PC, provides legal counsel for trusts, probate, and guardian law services. Based in South Jordan, Utah, we are well-versed in state laws and will advise you on the option that offers the best protection for your family.


Couple Getting a Trust Package

Revocable Living Trusts

Arrange for a simple and effective transfer of assets with a revocable trust. These documents have become a popular alternative to traditional wills as a way to pass on property when you die. Even though Utah's probate system is among the simplest and least expensive, many citizens are attracted by the possibility of an even quicker and easier asset transfer. These trusts are an arrangement you make for the management and distribution of your property and can be modified or eliminated at any time.

The Package

In a standard revocable living trust package, there should be a trust document as well as a pour-over will to add any other assets to the trust. There should also be a durable power of attorney. Other inclusions might be related legal documents such as a health care directive, personal effects memorandum, or memorial instructions.


Trustees

In revocable trusts, a written agreement or declaration appoints a trustee to administer property and gives detailed instructions on how property is to be managed and eventually distributed. If you do not plan to serve as trustee, you should consider those fees and weigh whether they should replace other expenses you are paying to manage assets. If you do serve as the trustee, a successor trustee will be appointed to carry out your instructions should you die or become incapacitated.

Expenses

The expense of establishing a revocable living trust depends on how valuable and complicated the assets are. They are also affected by whether standard documents are used, how many assets must be transferred to a trustee, and if tax planning is required. Before having an attorney set one up, ask for an estimate in writing and compare it with the costs of a will and probating your estate.