Norcross Revocable Living Trusts Lawyer
Control Your Assets as You Plan for the Future
A revocable living trust is a powerful estate planning tool that provides flexibility, privacy, and control over your assets during your lifetime and after your passing. At Bowman Law Firm, we help individuals and families establish customized revocable living trusts that align with their estate planning goals. With decades of legal experience and expertise in Georgia estate planning, Norcross revocable living trusts lawyer Shireen Hormozdi Bowman is dedicated to providing comprehensive guidance to ensure your legacy is preserved according to your wishes.
What Is a Revocable Living Trust?
A revocable living trust is a legal document that allows you to transfer ownership of your assets out of your name and into the trust while retaining full control over the property during your lifetime. As the creator of the trust, you can make changes or revoke it at any time. Upon your passing, the assets in the trust are distributed to your designated beneficiaries without going through probate, which can save time and costs for your loved ones.
Key benefits of a revocable living trust include:
- Avoids Probate: Assets held in a trust bypass the probate process, allowing for a faster and more private distribution of assets.
- Maintains Control: You can serve as the trustee and manage your assets as you see fit, appointing a successor trustee to take over when needed.
- Provides Flexibility: The trust can be amended or revoked if your circumstances or wishes change.
- Ensures Privacy: Unlike a will, a trust does not become part of the public record, keeping your estate matters confidential.
- Protects in Case of Incapacity: If you become incapacitated, the successor trustee can manage your affairs without the need for court intervention.
How Bowman Law Firm Can Help
Creating a revocable living trust requires careful planning to ensure that it serves your specific needs and goals. Our firm provides personalized legal assistance, helping you understand your options and draft a trust that provides maximum benefits. Our services include:
Establishing and Customizing Your Trust
We guide you through the process of creating a revocable living trust that meets your unique needs. This includes identifying your assets, designating beneficiaries, and appointing a reliable successor trustee to manage your trust after your passing.
Funding Your Trust
A trust is only effective if it is properly funded. We help you transfer ownership of your assets—such as real estate, financial accounts, and personal property—into the trust to ensure they are covered by its protections.
Updating and Amending Your Trust
Life changes such as marriage, divorce, the birth of children, or acquiring significant assets may require adjustments to your trust. We provide ongoing support to update your trust so that it always reflects your current wishes and circumstances.
Revocable Living Trusts vs. Wills
Many people wonder whether they should create a revocable living trust instead of a will. While both serve as essential estate planning tools, they offer different benefits. For example, a will only takes effect after your death, while a trust provides benefits during your lifetime and after. Also, wills must go through probate, which can be time-consuming and costly, whereas a trust avoids probate. Additionally, a trust allows for incapacity planning by appointing a successor trustee to manage assets, while a will does not.
For many individuals, a revocable living trust is a preferable option to streamline asset distribution and provide greater control over their estate.
Is a Revocable Living Trust Right for You?
A revocable living trust is beneficial for many people, but it is not a one-size-fits-all solution. It may be a good choice if you:
- Want to avoid probate and ensure a smooth transfer of assets
- Own property in multiple states and want to simplify estate administration
- Want to maintain privacy regarding your estate and beneficiaries
- Have concerns about incapacity and wish to have a plan in place for asset management
At Bowman Law Firm, we evaluate your unique situation and recommend the best estate planning strategies for your needs.
Contact Bowman Law Firm for a Free Consultation About Including Revocable Living Trusts in Your Estate Plan
If you are considering a revocable living trust, our experienced Norcross estate planning attorney can guide you through the process and create a plan tailored to your needs. Contact Bowman Law Firm today for a free consultation to start protecting your assets and securing your family’s future.