Revocable Trust Lawyer Fort Collins, CO
If you’re thinking about establishing a revocable trust, you should consult a revocable trust lawyer in Fort Collins, CO such as W.B. Moore – Attorney at Law. A revocable trust is a common tool for managing one’s assets during your lifetime. A skilled lawyer can help you create a valid trust that clearly states your wishes.
Definition of Revocable Trust
Just like the name suggests, a revocable trust is a trust that is revocable during the grantor’s lifetime. The document allows the grantor to remove assets, alter instructions or terminate the trust.
Benefits of a Revocable Trust
If you’re on the fence on whether you should establish a revocable trust or not, here are a few benefits you should know about:
- Provide Flexibility: One of the biggest advantages to a revocable trust is flexibility. Certain circumstances in your life can change and you want your trust to reflect that. The trust document allows you to change the terms whenever you see fit.
- Avoid Probate Court: Probate is the legal process by which your estate plan is proved valid in court. Unfortunately, however, probate is known for being lengthy and expensive. You don’t want your family members dealing with that after you’re gone. By creating a revocable trust, you can help your family skip the probate process.
- Avoid Conservatorship: If you establish a revocable trust, it will continue to manage your assets if you become mentally or physically incapacitated. The person you appoint as your successor trustee will manage your assets, helping you avoid court.
- Increase Privacy: When you have a standard will, your assets will become public after you die. If you’re a private person, you might not feel comfortable with this.That’s another reason to speak to a revocable trust lawyer in Fort Collins, CO. The assets in a revocable trust will remain private.
- Save Money: While it’s true that it initially costs more to establish a trust than a will, you may save more money in the long run. In addition to saving on probate expenses, a revocable trust can hold up well if someone tries to contest it. This can save money in your estate.
If you have additional questions about creating a revocable trust, you should schedule a consultation with a revocable trust lawyer in Fort Collins, CO. At W.B. Moore Law, we offer free consultations after normal business hours and by Zoom to accommodate your busy schedule.