Trusts Attorney in Phoenix, Arizona

What is a revocable trust and when is it used?

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So revocable trust is a substitute for a will. If I create a will for someone and then they die we’re going to go to the probate court and have the executor appointed by the court and have the will admitted meaning that the court says this is the real will unless somebody comes and objects. And then, the executor goes and does what the will says as far as paying creditors and distributing the money.

A revocable trust the clients during their lifetime transfer their assets to themselves in the trust. So Mark Bregman transfers his house to Mark Bregman as the trustee of the Bregman trust. And then when I die, my trust says when Mark Bregman dies, Sandy Bregman becomes the successor trustee and life goes on, we don’t have to go to court. So we sidestep the court by using the trust. So the rev trust or revocable trust or revocable living trust, RLT all of those are just a way that we avoid probate.

Phoenix, AZ estate planning attorney Mark A. Bregman explains a revocable trust.

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