A revocable trust, also called a living trust, is an effective estate planning tool. Because it is revocable, you have the power to revise the terms or revoke the trust entirely at any time. This type of trust is also useful for transferring your assets to your desired beneficiaries after death.
I am Memphis-based attorney Mike Parham. I established my legal practice to help meet the unique estate planning needs of individuals and families throughout Tennessee. To learn more about the benefits of establishing a trust, call 901-440-2592 to schedule an initial consultation.
A Trust Can Help Avoid Probate And Ensure Your Wishes Are Honored
The proper creation of a revocable trust can help ensure that your estate is settled without going through the time-consuming probate process. It also ensures that the administration of your estate is kept private, unlike probate proceedings which are public.
A revocable trust can also benefit yourself during your lifetime. You can help establish what should be done if you should ever become incapacitated. You may name a trustee who will be empowered to make financial and/or health care decisions on your behalf.
When you meet with me, we can discuss your estate planning goals and whether a trust should be part of your comprehensive estate plan. I can inform you of the benefits and potential pitfalls of different types of trusts so that you are able to make a fully informed decision about the best way to move forward.
Contact A Lawyer To Learn More About Living Trusts
Living trusts are useful to help carry out many of the same functions as a will. To speak with me about planning for the future, please call 901-440-2592 or contact me online to schedule an initial consultation.