Revocable Living Trusts
September 20, 2021 on ForYourBenefit, host Bob Leins, CPA® welcomes Anne Sullivan, Esq. and Lacey Yegen, Esq. This is a common topic, but one that people ask a lot of questions about. Today’s program plans to address: Types of trusts Revocable living trusts explained Advantages and drawbacks of having a revocable living trust Are you the right candidate for a revocable living trust? Whether to get a joint or separate revocable living trust Retitling assets to the living trust What a revocable living trust will not do for you (asset protection and Medicaid planning) Common questions and pitfalls to avoid (e.g., refinancing home in trust; how to amend/revoke a living trust; what happens if the trust is not funded; accidentally making a revocable living trust a beneficiary of a tax-deferred retirement account) How trust administration works after death. Send in a question: Email us in advance at ForYourBenefit@nitpinc.com