A revocable living trust is a legal document that allows you to manage and distribute your assets during your lifetime and after your death. Here are five key benefits of having a revocable living trust as part of your estate plan:

  1. Avoiding Probate: One of the primary advantages of a revocable living trust is that it allows your assets to bypass the probate process. Probate is a court-supervised process of administering and distributing assets after someone passes away. It can be time-consuming, costly, and subject to public record. By placing your assets in a trust, you can ensure a smoother and more private transfer of assets to your beneficiaries, saving time, money, and potential disputes.
  2. Flexibility and Control: With a revocable living trust, you retain full control over your assets during your lifetime. You have the flexibility to modify or revoke the trust at any time, allowing you to adapt to changes in your circumstances, wishes, or family situation. You can also include specific instructions and conditions for the distribution of your assets, such as staggered distributions or providing for certain needs or contingencies. This level of control can be particularly beneficial if you have complex family dynamics or unique asset distribution goals.
  3. Smooth Transfer of Assets: By using a revocable living trust, you can establish a clear plan for the management and distribution of your assets after your death. This can help avoid confusion, disputes, and delays in asset distribution. With a trust, you can designate specific beneficiaries, create trusts for minor children or beneficiaries with special needs, and outline instructions for how your assets should be managed and distributed. This level of clarity and guidance can bring peace of mind to you and your loved ones.
  4. Incapacity Planning: A revocable living trust offers provisions for incapacity planning. If you become mentally or physically incapacitated and are unable to manage your affairs, the successor trustee appointed in the trust can step in and handle your financial matters, such as paying bills, managing investments, and making important financial decisions. This can help ensure that your financial affairs continue to be managed seamlessly without the need for court intervention or a conservatorship.
  5. Privacy: Unlike a will, which becomes a matter of public record during the probate process, a revocable living trust allows for greater privacy. The terms of the trust and the distribution of assets remain confidential, providing a level of privacy for your family and beneficiaries. This can be particularly important if you have sensitive or complex assets or if you wish to keep your estate matters private.

Advanced estate planning today can give you peace of mind – knowing that if something catastrophic were to happen to you, your family would be protected by your property being distributed according to your wishes. The Schaller Law Firm can give you peace of mind by drafting a revocable living trust.


In addition to avoiding probate, a living trust significantly benefits individuals who have been divorced, have a special needs child, a fiscally irresponsible child, or who desire to lower their estate taxes. Here’s an explanation of these benefits:

  1. Divorce: For individuals who have been divorced, a living trust can offer several advantages. First, it allows them to retain control over the distribution of their assets and ensures that their ex-spouse does not inherit or have access to their estate. The trust can be structured to provide for the financial needs of any children from the marriage while protecting assets from potential claims by the ex-spouse. Additionally, a living trust can help avoid probate, ensuring a smooth and efficient transfer of assets to intended beneficiaries.
  2. Special Needs Child: A living trust is a valuable tool for families with a special needs child. By creating a special needs trust within the living trust, parents can provide for the ongoing financial needs of their child without jeopardizing their eligibility for government benefits. The trust can be used to supplement government assistance, covering additional expenses related to the child’s care, education, and quality of life. It ensures that the child’s inheritance is managed properly and used to enhance their well-being without disqualifying them from crucial support programs.
  3. Fiscally Irresponsible Child: If you have a child who struggles with managing money or has a history of financial irresponsibility, a living trust can protect their inheritance. By placing assets in a trust, you can appoint a responsible trustee who will oversee the distribution of funds according to your instructions. The trustee can manage the assets on behalf of the child, providing necessary oversight and ensuring that the funds are used wisely and in the best interest of the child. This protects the child from squandering the inheritance and provides them with ongoing support and financial guidance.
  4. Lower Estate Taxes: A living trust can be structured in a way that helps minimize estate taxes. By utilizing various estate planning strategies, such as creating irrevocable trusts or utilizing marital and charitable deductions, the taxable value of the estate can be reduced. This can result in significant tax savings for the individual and their beneficiaries, allowing more assets to be passed on to loved ones rather than being lost to estate taxes. Properly structured living trusts can help preserve wealth and ensure a more efficient transfer of assets.

Take the Next Step …

Contact attorney Bob Schaller and schedule a FREE consultation. Zoom conference or in-office conferencing is available. Identify the how you want your property distributed.

The Schaller Law Firm drafts the revocable living trust, and any other estate planning documents requested.

Attorney Schaller reviews the draft estate planning documents with you and makes any necessary changes. Then, your estate planning documents are signed, witnessed, and notarized.

You keep your original revocable living trust in a safe place, like a lockable metal box or drawer in your home, safe-deposit box, or other place you store valuable papers and jewelry.  A copy can be retained by the Schaller Law Firm for safe keeping.

Celebrate knowing your estate planning documents are completed. Enjoy the peace of mind knowing your wishes will be implemented.

Complicated? You bet.

You should have an estate planning attorney on your side. Tap into Attorney Schaller’s 37+ years of legal experience. He wrote the book on client satisfaction.

FREE consultation!  Start protecting yourself and your family with a complete estate plan. Call to schedule your appointment, request an appointment through the Contact Us page, or book an appointment with the convenient online booking system.