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Home :: FAQ :: Setting Up a Revocable Living Trust: What You Need to Know

Setting Up a Revocable Living Trust: What You Need to Know
Setting up a revocable living trust now can help your estate avoid probate and eliminate or reduce your estate taxes. This is something that shouldn’t be done on your own; you’ll want estate planning attorneys that you can trust to give your loved ones the help they need during difficult times.

Read more below to continue learning about how setting up a revocable living trust (or RLT) can ensure that your assets will be managed the way you want them to be after you die, or in the event you become incapacitated.


If you’re ready to start to filling out a revocable living trust form or you’ve otherwise decided that an RLT is the right legal vehicle for you, give us a call at (703) 468-1885 or fill out our online contact form and we’ll get in touch with you right away.

The Definition of a Revocable Living Trust

In short, an RLT lets you transfer the ownership of your assets and other property into a trust during your lifetime. Because the trust is “revocable” you can make changes to it at any time before your death (revocable trusts become “irrevocable – unchangeable – after your passing).

Some of the benefits of this document are:
  • Your estate may avoid probate after your death.
  • It keeps the details of your trust and your heirs private.
  • You can segregate assets in a marriage.
  • You can assign power of attorney.
  • It can eliminate/reduce estate taxes.
An RLT often replaces or supplements your will.

Setting up a revocable living trust is fairly simple. With the help of good attorney, you will create an agreement that transfers the legal ownership of your property to a person or institution (the trustee) so that the trustee can then manage that property for your benefit. You can name yourself the trustee and retain ownership of the property, as is almost always done in RLTs.

Who Should Consider Setting Up a Revocable Living Trust?

RLT agreements generally are best for people who:
  • Have young children (This can be especially helpful if you have set up a trust fund for your children and you don’t want them to get a hold of it until they reach a certain age – such as 25 or even 30 – should you pass away before they are responsible for themselves.)
  • Have concerns about estate taxes. (If you have substantial assets an RLT can help you avoid or reduce the taxes that will be charged to your estate.)

Start Setting Up a Revocable Living Trust Today

Protect your family and your property today by calling an Irving & Irving estate planning attorney for more information on setting up an RLT, a trust fund, grantor trust, or any other type of trust or estate plan.

We possess the years of experience and knowledge needed to help you put together the right trust for your assets and family’s needs.

Give us a call(703) 468-1885 or send us an e-mail at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

We look forward to helping you set up a trust that works for you and your family’s needs.

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