A revocable trust allows you to:
- Remain in control of your property while you’re alive, while designating the beneficiaries thereof upon your death.
- Make and designate specific financial arrangements for the personal and financial care of yourself and your loved ones in the event of disability
- Provide a mechanisms for you and your spouse to safeguard your assets from unexpected influences and possible beneficiaries.
- If married, this mechanism may protect your assets so that they cannot be lost or transferred as a result of remarriage after the death of one of you.
- Designate that the funds shall be used for specific purposes such as medical care or education for your children, grandchildren or others.
- May minimize income taxes to the extent possible.
- May eliminate or reduce estate tax to the extent possible.