Posted on: March 15th, 2016
REVOCABLE LIVING TRUST based estate plan provides instructions that will allow you to:
Control your property while you are alive
Take care of you and your loved ones in the event of disability
Pass your property to your heirs when and how you want while maintaining privacy
Ensure that you and your spouse have sufficient assets to maintain your standard of living now and in retirement.
• Maintain maximum control and flexibility during your lifetime.
• Provide for you in the event you become disabled.
• Simplify administration as much as possible upon your death or disability (avoiding   probate & guardianship).
• Avoid having your private matters being made public unnecessarily.
• Ensure that the efforts you desire are used to save your life.
• Have your property continue to benefit the survivor after one of you dies.
• If married, protect your assets so that they cannot be lost as a result of remarriage after the death of one of you.
• Ensure that the persons you select in fact become the guardians of your minor children.
• Protect your children's or grandchildren's inheritance from mismanagement.
• Structure your children's or grandchildren's inheritance in such a way that it installs values and virtues.
• Educate your children and grandchildren.
• Reduce the risk of litigation from heirs who receive less than they think they are entitled to.
• Minimize income taxes to the extent possible.
• Avoid or minimize capital gain tax on the sale of assets.
• Eliminate as much estate tax as possible.
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