A popular estate planning tool that Miller & Miller Law Group PLLC helps develop are revocable living trusts. These are created to decide who will get your property when you pass away. In this case, ‘revocable’ means that you can change and alter your trust as time passes and your circumstances change. The ‘Living’ aspect of the trust is just in regard to you making it during your lifetime.
Should you become incapacitated, revocable living trusts also offer you protection, as they are designed to work in conjunction with a last will and testament.
A revocable living trust that is funded correctly can avoid probate all together. Although estate plans vary significantly between one another, a revocable living trust is a great estate planning option.