Establishing A Revocable Living Trust

By Investopedia. May 7th 2016

Do you ever worry about how your beneficiaries will manage their portion of their inheritance when you pass away? We all love our children, but there's often one in the bunch who just can't manage his or her money, and leaving that person a large sum could be a disaster. One solution that allows you to still exert some control over your money (from the great beyond) is the 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. This allows for a faster and less costly method of asset transfer than a will, which requires court supervision or probate. In this article, we explain RLTs and give you the information you need to decide whether this arrangement is right for you.

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