As an estate planning and elder law attorney, clients often ask they should have a revocable living trust. With the increased expense of probate and the overuse of the court system, a revocable living trust can be a good estate planning option. In addition to avoiding probate, there are many benefits to holding your assets in a revocable living trust.
1. Providing for You if You Become Incompetent. If you are competent, you will generally be your own trustee. However, if you are unable to make decisions for yourself, your trustee or successor trustee has a fiduciary obligation to act in your best interest.
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