Are you concerned about how your beneficiaries will manage their inheritance when you pass away? At the Grupp Family Law Firm, we understand from first-hand experience the love and devotion that binds together parents and their children as well as all members of the family circuit. Therefore, one is often concerned about the one in the bunch who struggles with money management and the bleak prospect of leaving such a one with a large sum of money. To ensure that you still exert some control over your money, the Grupp Law Firm can help you form a revocable living trust (RLT). An RLT can be used as a substitute for a will by providing for the distribution of assets upon the grantor's death. Unlike a will, which comes into play only after you die, the living trust can start benefiting you while you are still alive. Additionally, the trust is revocable in nature, which allows you to make adjustments as befit your personal situation. A plethora of advantages can be gleaned from such an arrangement including the avoidance of probate, its revocable nature, privacy preservation, the elimination of challenges to the estate, the segregation of assets, the assignment of durable power of attorney or guardianship, continuous management, and estate tax minimization.
At the Grupp Law Firm, our team of experts are ready to answer any questions you might have and to start you on your path to peace of mind, if this is determined to be a beneficial option for you. Contact us today to speak with one of our attorneys or client advisor.