We have received many questions from clients about trusts, specifically revocable living trusts (though most didn’t know what they were called). Also known as a revocable trust or living trust, this legal document created while you are alive allows you to authorize a trustee to manage designated assets for you and beneficiaries during your lifetime.

Revocable trusts areespecially attractive for wealthy individuals because they can preserve privacy, avoid probate, and protect in case of incapacity.

This particular question came from a client and her boyfriend. She thought she might need a trust, but her boyfriend thought she needed a will. Fortunately, both were right!

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