If you are creating your estate plan and would like to set up a spendthrift trust to protect one or more of your adult loved ones, consult with an experienced estate planning attorney first. Your attorney can review your objectives, as well as the size of your estate, and help you devise a plan that fulfills your wishes.
A revocable living trust is one of the most important and useful tools in the estate planning process. It allows you to create instructions for what happens to assets owned by the trust while you are alive and well, in the event you become disabled and after you pass away.
We spend our lives working hard to accumulate assets we can pass down to our children and families after we die. Part of that hard work needs to include estate planning to ensure the property and assets we leave behind make it to our loved ones as intended
Some people pass away leaving only their home or other real estate behind. Estates that are made up almost exclusively of real estate and personal items are subject to the same guidelines as any other estate.