(401) 307-5556
I talk to a lot of people who’ve heard about living trusts and are interested in using one, but they often tell me, “I just need something simple.” The truth is, there’s really no such thing as a simple trust. Trusts are legal instruments that require thoughtful drafting, and the language used in the document matters a great deal. However, the process of making a trust work—known as “funding” the trust—can actually be very straightforward.
Claim Your Free Book — Written By Jill
In Death, Taxes & Change, estate planning attorney Jill M. Santiago guides you through the complex (and often overwhelming) world of wills, trusts, and future planning—with clarity, compassion, and zero legal jargon. Whether you are a Rhode Island resident, a snowbird with property in multiple states, or someone with loved ones who have special needs, this book equips you to create a plan that reflects your values and avoids unnecessary court battles.
Mail Me Free Copy
The Best Tool To Avoid Probate
A revocable living trust, or RLT, is a tool that many people use to avoid probate, maintain privacy, and ensure their assets are handled exactly how they want after they pass away. To make this happen, assets are retitled into the name of the trust during the lifetime of the person who creates it. This includes things like real estate, bank and investment accounts, stocks, bonds, life insurance policies, and personal property. When done properly, a trust allows your loved ones to bypass court involvement and access the resources they need quickly and easily.
Many people are surprised to learn that a trust can be both practical and cost-effective, especially if your goal is to simplify things for your family down the road. What might feel complicated at first can actually be one of the most efficient ways to manage your estate.
Let’s look at an example
Barbara is unmarried and owns her home. She also has a checking account and an IRA. Her two adult daughters are successful and financially secure. Years ago, Barbara went through the process of handling her father’s probate estate. While the estate wasn’t particularly large, the experience was stressful and painful due to disagreements among family members. Wanting to avoid similar conflict in her own estate, Barbara came to us for help.
We created a revocable living trust for Barbara and transferred her home into the trust. We also made sure her daughters were named as beneficiaries of her IRA and checking account. Now, when the time comes, Barbara’s estate will not need to go through probate. Her daughters will be able to access the funds they need to pay final expenses right away, and they can sell the home without court supervision or delay.
Trust-Based Plans Actually Save You (& Your Heirs) Money After You Die
Although this trust-based plan cost a bit more to set up than a will-based plan, it will save Barbara’s family thousands of dollars in court fees and legal expenses. Just as important, the trust is built to accommodate life’s changes, such as the possibility of Barbara becoming incapacitated, the death of a beneficiary, or the birth of grandchildren.
If you’ve been thinking a trust might be too complicated or too expensive, you may want to take a second look. With the right guidance, a trust can be the simplest and most thoughtful way to protect your legacy and take care of your loved ones.
If you’re ready to explore whether a trust is right for you, we’d be happy to meet and talk through the options that fit your life and your goals.
