Get Legal Guidance From A Waukesha Revocable Living Trust Lawyer
Estate planning is not just about passing your possessions to the next generation. It is also about giving yourself the tools to make your wishes known and protect your finances today.
At Lillesand Leonhard Law LLC, attorney Ashley E. Lillesand-Leonhard helps Wisconsin residents protect their assets and plan for the future with tools such as revocable living trusts. Understanding the benefits of a revocable living trust can empower you to make informed decisions about your estate planning needs. She can give you the information you need to make the right choice for you.
Understanding Revocable Living Trusts
A revocable living trust serves as a flexible and effective way to manage your assets during your lifetime and distribute them after your passing. Unlike a will, which must go through probate, a trust generally allows your estate to bypass this often lengthy and costly process.
In Wisconsin, the probate limit is $50,000, meaning that estates valued above this amount must undergo probate. However, this does not apply to assets protected by a trust or other means. By establishing a revocable living trust, you can ensure that your estate remains intact and accessible to your beneficiaries without the involvement of the public court system.
Key Roles: Settlor And Successor Trustee
When creating a revocable living trust, you will assume the role of the settlor, the person who creates the trust. As the settlor, you have the flexibility to manage and modify the trust as needed throughout your lifetime. This gives your revocable living trust the ability to adapt to your changing needs.
You will also designate a successor trustee who will take over managing the trust if you become incapacitated or pass away. This person will manage the assets in the trust and distribute them according to your wishes. As a part of creating or modifying the trust, you can outline instructions for your successor trustee.
Privacy And Peace Of Mind
One significant advantage of a revocable living trust is the privacy it provides. Unlike a will, which becomes public record once filed with the Waukesha County Register in Probate, a trust remains confidential. This privacy protects your family’s financial matters from public scrutiny and minimizes the potential for disputes among beneficiaries.
At Lillesand Leonhard Law LLC, attorney Ashley E. Lillesand-Leonhard understands the importance of maintaining your family’s privacy. That is why she is committed to helping you create a tailored trust that meets your unique needs.
Begin Protecting Your Finances And Legacy With A Free Consultation
Contact Lillesand Leonhard Law LLC today to learn more about revocable living trusts and how they can benefit your estate planning strategy. Attorney Ashley E. Lillesand-Leonhard is here to guide you every step of the way, ensuring that your assets are protected and your wishes are honored. Let her help you secure a legacy of peace and security for your loved ones. Call 414-488-6511 or reach out online to schedule a no-cost consultation.