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Revocable Trust Funding and Administration Toolkit
Practical Law Toolkit w-014-6707 (Approx. 7 pages)
Revocable Trust Funding and Administration Toolkit
by Practical Law Trusts & Estates
| Maintained • USA (National/Federal) |
Resources that counsel can customize to use to fund and administer a revocable trust for an individual who resides in any US jurisdiction.
Revocable trust-based estate plans are common in many jurisdictions. Revocable trust based plans can help:
- Maintain a client's privacy.
- Avoid or minimize probate.
- Avoid guardianship in the case of the client's incapacity.
- Manage and transfer the client's assets during incapacity and after death.
However, for a revocable trust-based plan to be most effective counsel must ensure that the trust is properly funded during life and properly administered both during life and after the client dies.
This Toolkit contains continuously maintained resources counsel can use when advising clients regarding funding and administering revocable trusts.