Phoenix Revocable Living Trust
The cornerstone of our estate planning is the work we do to create revocable living trusts in Arizona. As the name implies, revocable trusts are fully cancellable at the request of the trust maker.
When you create a Revocable Living Trust to hold your assets, you become the “trust maker,” as well as the “trustee” and the “beneficiary.” Assets transferred to a revocable trust remain in your control as the trust maker (also known as The Grantor.) The income from assets in the trust are still reported on the grantor’s tax return. And you are free to buy and sell property in the trust, and add and remove assets from the trust as you see fit.
Revocable trust are used for many reasons, but the primary reasons are to avoid probate, to maintain privacy regarding your assets and their disposition upon your death, and to provide for advance planning in case of incapacity or disability.
ALL OUR REVOCABLE LIVING TRUST PLANS INCLUDE THE FOLLOWING:
- A revocable living trust that contains your desired plan for trustees, care instructions if you are incapacitated, and your plan for disposition of your assets
- Transferring assets to, or funding, your trust. (This is a crucial step in making your estate plan work the way you want it to. Assets must be titled in your trust in order for your successor trustees to manage them)
- A Pour Over Will – the will in a trust-based estate plan that contains instructions for any assets that were inadvertently left out of your trust
- Comprehensive nomination of guardians for minor children
- Comprehensive attorney-drafted Durable Powers of Attorney that allow your spouse or another trusted person to sign documents and handle financial matters for you
- Advance health care directives to give directions to physicians and family members regarding life support and other medical treatment preferences
- Thoughtful “Incapacity Planning” to assure that you are protected in the event you become unable to manage your own affairs
- Our law office will provide you with a three-ring FAMILY PROTECTION PLAN BINDER which contains copies of all your estate planning documents as well as information regarding where assets are located, directions for memorial services, and all other pertinent information
- We offer all our valued clients PEACE-OF-MIND meetings at no additional charge. Any time you experience a major life event or feel the need to consult with an attorney about an unexpected issue, you can call us and schedule a peace-of-mind meeting…at no charge.
Contact Phoenix Revocable Living Trust Lawyer, Libby Banks For a Free Consultation Today.