A revocable living trust is a popular choice for establishing a family’s estate plan. While a simple will-based plan may work for some families with straightforward goals or estates, most families can greatly benefit from a revocable living trust, also known as a family trust. A family trust can be amended or revoked during the grantor’s lifetime, giving the grantor control over their property and affairs. Upon disability or death, the trust allows for the private transfer of responsibility to a successor Trustee, who assumes a fiduciary duty to manage the affairs based on the grantor’s instructions.

When properly drafted and funded, a revocable living trust can provide significant protection for family members, offering safeguards against taxes, creditors, spendthrift issues, and remarriage, all while avoiding court involvement and probate.