Premium Only Content

Trust & Estate Quick Tip #7 – Revocable Trusts Does Not Provide Protection Against Creditors
www.estateandprobatelawyer.com / 954-580-3690
A revocable trust, also referred to as a living trust, is a legal agreement that permits the transfer of your assets to a trustee for the benefit of designated beneficiaries. One significant advantage of a revocable trust is that it allows you to maintain control over the assets within the trust during your lifetime. You have the flexibility to modify the trust whenever necessary, such as adding or removing assets, changing beneficiaries, or even revoking the trust altogether. Moreover, by holding assets in the trust, you can bypass the probate process, which can otherwise be both time-consuming and expensive.
There is a common misconception that establishing a revocable living trust and placing assets into it offers protection against creditors. However, it is important to note that a revocable living trust does not provide such creditor protection.
In contrast, an asset protection trust is a type of trust structure designed to safeguard an individual's assets from creditors. It serves as a vehicle for holding assets with the explicit purpose of shielding them from potential claims by creditors.
To learn what the best options are for your situation, contact an estate planning lawyer!
PHONE: 954-580-3690
WEB: www.estateandprobatelawyer.com
FACEBOOK: https://www.facebook.com/estateandprobatelawyer
YOUTUBE: https://youtu.be/-uSPOE3POBU
INSTAGRAM: https://www.instagram.com/sjflawgroup/
LINKEDIN: https://www.linkedin.com/company/sjflawgroup/
TIKTOK: https://www.tiktok.com/@sjflawgroup
-
1:20:38
BlaireWhite
2 days agoThe Dark Truth About UFOs: Why The Government Is Lying
9.78K8 -
12:15
Nikko Ortiz
15 hours agoMonday Gun Fails
50.8K9 -
2:10:32
Side Scrollers Podcast
19 hours agoStreamer Nearly Beats A Man to Death on Stream + Twitch Viewership PLUMMETS + More | Side Scrollers
10.6K7 -
13:09
Forrest Galante
1 day agoWildlife Expert Reacts To Deadly Australian Animal TikToks
84.2K14 -
23:47
GritsGG
2 days agoThe Forgotten Best Sniper Support AR!
31.1K4 -
10:18
The Pascal Show
18 hours ago $0.44 earned'I WILL NOT GIVE UP ON MY BABY!' Emmanuel Haro's Mom Breaks Silence From Jail?!
10.1K -
LIVE
Lofi Girl
2 years agoSynthwave Radio 🌌 - beats to chill/game to
230 watching -
2:33:04
Badlands Media
14 hours agoBaseless Conspiracies Ep. 147: Pole Shifts, Plasma Skies, and the Truth About Cataclysms
177K17 -
4:33:42
Drew Hernandez
10 hours agoISRAEL BOMBS GAZA HOSPITAL ON LIVE TV KILLING AT LEAST 20 INCLUDING JOURNALISTS & CIVILIANS
27.8K81 -
2:55:23
TimcastIRL
9 hours agoTrump Orders Specialized National Guard Units To Combat Crime In Cities, Dems Furious | Timcast IRL
220K153