Do you need a Revocable Living Trust?

A Trust is a legal arrangement where assets are transferred to a Trustee to be used for the benefit of one or more beneficiaries.  The one who sets up the Trust is the Settlor or Grantor.  During the Settlor’s life the Settlor manages the Trust assets, no ownership rights are given up during his/her lifetime.  Following death or disability, a named Trustee takes over.  The advantages of a Trust are:

– avoids probate

– does not become public record, like a Will

– if the value of your estate is more than the amount excluded from federal estate tax, a trust may help reduce or eliminate estate taxes

– if you have minor children and something happens to you before the children become adults you can direct at what ages children are to receive assets (under Michigan law children are considered adults at the age of 18 and will receive any inherited property at that age, unless you direct otherwise)

– proper management of assets

– a Revocable Living Trust can be revoked or amended by you at any time

We can help you set up a Revocable Living Trust.

Call Todd Courser 810-245-0813.