Cassady Law Offices, P.C. - Las Vegas Estate Planning Attorney
Call for a free consultation

The uses of a revocable trust

Some people in Nevada who are creating an estate plan might want to use a revocable trust. Passing assets to beneficiaries using a revocable trust may be more private, less expensive and easier than using a will because a trust does not have to go through the public process of probate.

A revocable trust has several other uses as well. It can specify how and when assets are distributed to beneficiaries. It can also be useful in blended families to protect children from earlier relationships.

A revocable trust can be altered during the lifetime of the person who created it. After its initial creation, it is funded by moving assets into it. How these assets are moved into the trust varies depending on the asset. For example, the deed for a home would be altered so that it is in the trust's name. Other ways to fund revocable trusts include beneficiary designations and assignments.

A trust may have a number of other uses as well. For example, it can skip a generation and pass assets on to grandchildren. It may also help protect an estate from taxes and creditors. A charitable remainder trust can aid in charitable giving. However, one thing people should keep in mind is the potential tax implications of various estate planning strategies. Individuals should look into whether they are shifting a large tax burden onto beneficiaries or creating other complications for them. Other considerations for an estate plan are documents that protect a person and their estate if they are incapacitated. A lawyer may be able to help a client set up the proper estate planning documents.

No Comments

Leave a comment
Comment Information
Email Our Team

More Questions? We Have Answers.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Las Vegas Office
10799 West Twain Avenue
Las Vegas, NV 89135

Toll Free: 800-557-6423
Phone: 702-706-1083
Fax: 702-650-5561
Las Vegas Law Office Map

Henderson Office
2425 W. Horizon Ridge Pkwy.
Henderson, NV 89052

Toll Free: 800-557-6423
Phone: 702-706-1083
Map & Directions