A trust is set up to protect assets and avoid probate after your death. While no one likes to think about it, it’s important to protect your property in the event of your passing. There are two basic types of trusts. The Law For All, PA of Fort Lauderdale, FL will help you decide whether a revocable or an irrevocable trust is your best option.
A revocable trust, also known as a living trust, can be changed, modified or revoked during the lifetime of the trustmaker. Once the trust holds the property or assets, they can’t be subject to the probate process, but they are available to creditors. Most revocable trusts evolve into irrevocable trusts upon your death.
Contact The Law For All, PA today to speak with a trust attorney in Fort Lauderdale, FL.
An irrevocable trust can’t be modified or changed after its creation. While you aren’t able to alter the plan that’s in place, there are advantages to an irrevocable trust, including: