A revocable living trust is an estate planning tool you establish during your lifetime. A well designed trust takes title to your property, and you designate a Trustee to carry out your instructions in the event you become incapacited or die.
Irrevocable trusts are also available to help you provide for special needs children, plan for your long-term care, reduce taxes, and protect your estate from creditors.
Additional reasons an individual may create a trust would be to:
- Avoid probate and maintain a level of privacy
- Provide for minor children and spouse
- Support charitable causes
- Reduce estate taxes
- Manage assets through several generations
Call today at 202-455-6068 to see how the Jessica Johnson Law Office can help you!