What are the benefits of having a revocable trust?

On Behalf of | Aug 24, 2021 | Estate Planning

As everyone knows, it’s not easy to predict what will happen in life. If you’d like a way to ensure your family receives protection after you pass away, revocable trusts have a lot to offer. With that in mind, here’s a closer look at several beneficial reasons for adults living in Florida to consider a revocable trust.

Having more control over your administrator

One of the most important roles when discussing a trust is an administrator. Traditionally, someone might need to choose a family member to take over this role or someone who lives in the same state. However, a revocable trust can often allow someone to choose an administrator who is not a family member, lives in another state, or both.

Avoiding probate

When most people handle their estate planning matters, they want to avoid probate. There’s nothing inherently wrong with the probate process. However, some people find that’s it too expensive and time-consuming. If you have a sizable estate, having a revocable trust means your loved ones won’t get tied up in probate proceedings.

Not interrupting a grantor’s investments

It’s understandable to wonder about the future of your investments should you become disabled. Fortunately, revocable trusts offer a grantor uninterrupted management of their assets. When a grantor passes away, there’s no need to reregister any securities. A lack of investment interruptions often means that no grantor or administrator will need to come up with new investment strategies.

As you can see, a revocable trust has many advantages. These trusts are great for people that want control over their assets without any beneficiaries going through probate. Revocable trusts also offer extensive investment protections.