Final Thoughts on the Revocable Living Trust
by JJ Childers
This week's Monday Morning Mentor Minute
JJ Childers here with a final look at the benefits of a Revocable Living Trust. Now bear in mind that since everyone’s situation is truly unique, some of these benefits may not apply to you. On the other hand, there are countless benefits that a living trust may bring to your own structure that we won’t cover. We are just talking about the general benefits of a living trust.
But these general benefits are still tremendous. By properly structuring your living trust you can direct exactly how you want to provide for your spouse, your children, who you want to serve as guardian of your minor children, how to provide for elderly or disabled parents, or even non-related persons or pets, in what manner you want gifts given to charities, etc.
This absolute control over your estate can even be extended to yourself should you be incapacitated. Through your living trust, you can have a say regarding your medical care even when you can no longer speak. Of course, the most important benefit of a properly structure Revocable living trust is the peace of mind that you can achieve by knowing that you and your loved ones will be provided for in the event of your incapacitation or death.
