Law Office of Kevin A. O'Brien | Offering estate planning, administration & probate services
Call Today: 302-888-2707
Law Office of Kevin A. O'Brien | Offering estate planning, administration & probate services
302-888-2707

Over 40 Combined Years Of Experience Resolving Estate Planning And Probate Challenges

Revocable Trusts

A revocable trust allows you to manage and distribute your assets during your lifetime and after your death. Our firm has been helping individuals and families with their revocable trusts and other estate planning needs for over 40 years.

We have a deep understanding of estate law and can help you navigate the process of creating a revocable trust. As a father-son team, we value the importance of family unity and effective estate planning. As estate planning lawyers, we offer personalized guidance to help you achieve your objectives.

We understand that estate planning can be overwhelming, and our goal is to provide you with peace of mind and a secure future. As estate planning attorneys, we will create an estate plan that meets your unique needs.

The Pros And Cons Of Revocable Trusts

Revocable trusts are a crucial part of our practice, and we have seen their benefits. They include:

  • Avoiding guardianship: If you become incapacitated and have not empowered others to administer your personal and financial matters, courts have the power to name guardians to make medical decisions and deal with your assets. Assets held in your revocable trust can avoid this costly and time-consuming court process. While powers of attorney may also be useful at such times, they do not always work and they all stop working when you die.
  • Avoiding probate: Revocable trusts can help you avoid probate and allow helpers to manage your assets during incapacity and after death.
  • Protecting inheritances: Delaware law strongly protects assets held in trusts you create for the benefit of your children or other beneficiaries. If your daughter is divorced, the trust you leave her will not be treated as marital property. If your son is involved in a terrible car accident, the assets in the trust you leave him can be protected from personal injury claims brought against him.
  • Control: The instructions you leave in your revocable trust control how they will be handled. Your instructions can allow your beneficiaries to serve as trustees, so they decide how trust assets will be invested and spent. Or you can give that power to others whom you trust to carry out your instructions more responsibly.
  • Special needs planning: A special needs trust protects assets for loved ones with disabilities. This can ensure that they receive the care and support they need without jeopardizing their eligibility for government benefits. Pooled funds, such as Delaware CarePlan, can serve as trustees when family members are not appropriate trustees.

There is no wealth threshold to cross before you consider making a trust part of your estate plan. Anyone can benefit, regardless of wealth level. We have worked with clients from all walks of life to create customized trust plans. Our estate planning lawyers take the time to understand your circumstances and craft a plan that works for you.

If there is a “con”, it is that an additional investment of the client’s time is needed to take full advantage of a trust. Spending an hour or so with a bank officer or other financial advisor to have accounts titled to a trust can be inconvenient, but it is time well spent. There is no additional cash outlay. Modern word processing makes it just as easy to prepare estate plan documents with trusts as without them.

Frequently Asked Questions About Revocable Trusts

Revocable trusts can be complicated, especially for those who are new to estate planning. Our lawyers answer some commonly asked questions below.

How do I set up a revocable trust?

You should work with an estate planning attorney who will assist you in creating the trust agreement and help you understand how it works. Do-It-Yourself kits sold online are often misunderstood. Those who sell them cannot offer personalized advice if they are not licensed to practice law in the state where the document is signed.

Take Control Of Your Estate Planning With A Revocable Trust

Hiring an estate planning attorney is crucial when it comes to revocable trusts. At the Law Office of Kevin A. O’Brien, we offer no-obligation consultations and provide direct attorney access, clear pricing and reasonable fees. Call us today at 302-888-2707 or complete our online contact form to schedule your consultation.