A revocable living trust is a written agreement designating someone to be responsible for managing your assets, should you become too ill or disabled. It is called a living trust because you establish the trust while you are alive.
It is revocable because, as long as you are mentally competent, you can change or dissolve the trust at any time at your own discretion. It is wise to name yourself and your spouse as trustees of the living trust. As trustee, you will have full control of your assets while you are alive.
Whether a living revocable trust is right for you depends on your circumstances. Bradford Miller Law can counsel you from a legal standpoint so you can make an educated decision about your estate. Give us a call so we can help you prepare all the legal documents suited to your personal situation.
See our website for helpful information regarding Estate Planning.
Posted by Bradford Miller Law, P.C.
134 N. LaSalle Street, Suite 1040
Chicago, Il 60602
312-238-9298
http://www.bradfordmillerlaw.com
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