How do I set up a revocable trust?

What steps do I need to take to set up a revocable trust?

To set up a revocable trust, you typically need to follow these steps: 1) Decide on the assets to include, 2) Choose a trustee, 3) Draft the trust document, 4) Fund the trust, and 5) Review and update it as needed.

What should I consider when choosing a trustee?

When choosing a trustee, consider their reliability, financial knowledge, willingness to serve, and whether they understand your wishes.

Can I change the terms of the trust later?

Yes, one of the main benefits of a revocable trust is that you can change its terms or revoke it entirely at any time while you're alive.

What happens to the trust after I pass away?

After you pass away, the trust becomes irrevocable, and the trustee will manage and distribute the assets according to your instructions.