The trust provides you with control over your assets while you are living and tax savings and the ability to avoid probate following your death. A revocable trust gives you the power to control your assets while you are living, but also controls the way your assets are distributed to your heirs upon your death. A revocable trust allows you to withdraw or add assets while you are living and also change those who benefit from the trust.
A trust is very similar to a will in that it directs how your assets will be divided and distributed upon your death. An added benefit of the trust is that your heirs that benefit from the trust are able to avoid the probate process. A trust gives you flexibility as well in how your assets are distributed upon your death. You name a trustee that will administer the trust and distribute your assets according to your wishes. The trust gives you the power to control your assets following your death and control how those assets are distributed following your death. You can provide for your children's or grandchildren's education or control at what age assets are distributed.
A trust can also help protect your assets from tax consequences and creditors during your lifetime. You can contact our experienced team of attorneys today to set up an initial consultation by calling 314-333-4140 or contact us online