Our team at Upton & Hatfield, LLP works hard to develop and implement a personalized estate plan that meets your needs. During the estate planning process, we may identify that a revocable trust is the most beneficial option for you and your assets. This type of trust allows you to:
- Avoid probate administration after your death
- Maintain the privacy of your personal information and the assets within the trust
- Name individuals or companies to administer your property at death
- Ensure the continued use of your personal property and assets should you become disabled
- Prevent interruption of investment management
Your team (our lawyers, your financial planner, tax accountant, and any other professional advisors) can help you recognize if a revocable trust is right for you.
How Does Your Revocable Trust Avoid Probate?
For your estate to avoid probate, you must change the title on your assets to the name of your revocable trust. While your income will continue to be reported on your individual tax return, the transfer of your titles, real estate, and more will help keep your assets out of probate administration. Our team can also help you determine if you should transfer your business to your trust.
In addition to your revocable trust, we are available to help with creating a pour-over will. While your revocable trust allows you to protect the assets you transfer to the trust from probate, sometimes an asset gets left out of your trust; either intentionally or unintentionally. Your pour-over will transfers those assets to your revocable trust when you pass away, however these assets will still be subject to probate.
Choose Our New Hampshire Estate Planning Attorneys to Help You
Creating a revocable trust with a qualified team can protect assets such as real estate, personal property, financial accounts, and probate administration from long-winded legal processes.
To discuss a revocable trust with our New Hampshire estate planning lawyers, we encourage you to reach out to us. It is our goal to educate you throughout the estate planning process. At Upton & Hatfield, LLP, we aim to help you understand your rights throughout the process and create a plan that suits your needs.