On Friday, March 4th, at 11am EST, Mr. Berger discusses if setting up a revocable living trust makes the most sense for your family, or if an alternative option would be best.

We have a checklist that we use to determine whether a Revocable Living Trust is best. We also offer an online questionnaire for those that are interested.

A RLT can be a substitute for a Will. If you have less than $2M in probate assets, the fee is $1500, if above it’s $2500. Probate administration is twice as high as for Trust Administration. 1.5% verse 3%.

Each property is subject to probate in its own state unless it’s in a RLT.

You want to double your estate tax exemptions by using a Trust. When the survivor passes, they use their own exemption after using their spouse as well.

You want your children to use the assets once you and your spouse pass. Leave asset protection for your spouse.

The trust can be managed by your financial advisor to make sure the assets remain as long as you want it too. You can also designate a trustee to step in if disabled at some point.

Concerns about privacy or about becoming disabled or if your children face lawsuits, then RLT’s are the best choice.

Submit your question

Bring your questions about estate planning and administration to our weekly Facebook Live with Mr. Berger on Fridays at 11am EST. Leave your email if you’d like to receive a notification of our response.