For Your Benefit

Revocable Living Trusts

September 20, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Anne Sullivan, Esq. and Lacey Yegen, Esq.  This is a common topic, but one that people ask a lot of questions about.  Today’s program plans to address:

  • Types of trusts
  • Revocable living trusts explained
  • Advantages and drawbacks of having a revocable living trust
  • Are you the right candidate for a revocable living trust?
  • Whether to get a joint or separate revocable living trust
  • Retitling assets to the living trust
  • What a revocable living trust will not do for you (asset protection and Medicaid planning)
  • Common questions and pitfalls to avoid (e.g., refinancing home in trust; how to amend/revoke a living trust; what happens if the trust is not funded; accidentally making a revocable living trust a beneficiary of a tax-deferred retirement account)
  • How trust administration works after death.

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