Advantages and Disadvantages of a Revocable Trust

The best thing about a revocable trust is that the assets that you transfer to the trust do not need to go through probate. After you die, the trust simply continues to operate the way it did while you were alive, except that, if you were its trustee, the person you appointed as a successor trustee takes over the duties of distributing funds from the trust. Another advantage is that, as long as you are alive, you can keep modifying the instructions for the administration of the trust; for example, you can continue adding beneficiaries as more and more grandchildren are born.

Revocable trusts are not a way of hiding money, though. Creditors have the right to seek payment of debts from your revocable trust, just as they have the right to seek payment from your estate. Irrevocable trusts offer more protection from creditors than what you get from a revocable trust.

Contact Kruse Law About Saving Money With a Revocable Trust

Revocable trusts are an attractive option for avoiding the expenses associated with probate. A St. Petersburg trusts lawyer can help you ensure that your revocable trust meets legal requirements and helps you save as much money as possible. Contact Kruse Law Group in St. Petersburg, Florida, to set up a consultation.