Revocable Trust Myth #3 - A Revocable Trust is Fancy and Complicated

True or false? A Revocable Living Trust is part of creating a really complicated and sophisticated estate plan, while all you really need is a Last Will and Testament.

The answer is FALSE. These days a Revocable Living Trust is the basis of a solid foundational estate plan for the majority of people. Why? Because the benefits of a Revocable Living Trust far outweigh those of a Last Will and Testament:

1. A Revocable Living Trust protects your privacy, while a Last Will and Testament becomes a public probate record for the whole world to see.


2. A disability plan can and should be built right into your Revocable Living Trust, while a Last Will and Testament only goes into effect after you die.


3. Under most circumstances a fully funded Revocable Living Trust will avoid probate, while under most circumstances property that passes under the terms of a Last Will and Testament has to be probated.

Whether you're young or just young at heart, in one legal document a Revocable Living Trust will provide the perfect vehicle for organizing your finances and keeping them private; planning for the possibility of mental incapacity; avoiding probate; and protecting your beneficiaries from court-supervised guardianships, bad decisions, divorcing spouses, and lawsuits.

Further Reading

• Wills vs. Revocable Living Trusts - What Do You Need?


• Pros and Cons of Revocable Living Trusts


• What are the Benefits of a Revocable Living Trust?


• What Happens if You Don't Have a Disability Plan?


• Benefits of Creating Lifetime Trusts for Your Spouse and Other Beneficiaries


• Revocable Trust Myths