Revocable Living Trusts

Revocable Living Trust Services

Practicing for Over 30 Years | Fair Pricing | Locally Owned

Practicing for Over 30 Years
Fair Pricing
Locally Owned

Take Advantage of the Revocable Living Trust

The Revocable Living Trust is a document for both life-planning and death-planning. It allows for probate avoidance while also providing for protection if you become disabled.

The Revocable Living Trust allows for asset and management while giving flexibility for the changes in your life over time.

Trust in the Experts

One of the biggest benefits is maximizing your estate tax savings. The Trust would allow the owner to maximize his estate tax credit, thereby reducing estate taxes paid at the death of the second spouse.

Unlike the Irrevocable Trust, the Revocable Trust can be changed any time you wish. The Trustee is free to put in or take out assets at any time. On the downside, the Trustmaker still “owns” the assets for Medicaid and creditor purposes.

The Trust will take title to many of your assets, including bank accounts, life insurance, brokerage accounts, CD’s, real estate, etc, as well as being the beneficiary of life insurance and even IRAs or other qualified assets.

In order to reduce post-death costs, the Revocable Trust will avoid probate and the cost and delay caused by the court system.

Steven W. Barnstead is a member of the New York State Bar Association and the Chemung County Bar Association, in addition to serving all New York state courts. Call 607-734-1216 now to schedule your initial consultation.