Estate Planning: Explore Your Options

Estate planning is a responsibility that many people place on the back burner. Clearly, contemplating your own mortality may not be the most pleasant pastime in the world, but you should confront this reality head-on and take steps to protect your family. If you do not look into the subject thoroughly, you may assume that you should use a last will as your asset transfer vehicle. For some people with very simple situations, a will could suffice, but there are many other options. A will is not always going to be the best choice. Revocable Living Trusts A revocable living trust can be more preferable when certain circumstances exist. First, you should understand the fact that you do not surrender control of assets that you convey into this type of trust. You have the power of revocation, so you can dissolve the trust entirely at any time. While you are living and competent, you can act as the trustee, so you administer the trust yourself. To facilitate asset transfers after you are gone


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