Some reasons to set up a trust include:
- Control Ultimate Beneficiary
- Second Marriage Protection
- Bloodline Protection
- Creditor Protection
- Divorce Protection
- Spendthrift Protection
- Grandchild Trust
- Substance Abuse
- Share v. Sprinkle
Benefits of Revocable Trust:
- Avoid Probate
- Privacy (probate records are public)
- Avoid Multi-state Administration
- Reduced Executor’s fees
- Reduce Attorney’s fees
- Avoid Guardianship
- Asset Management
- Beneficiary Designations
