Is a Revocable Trust Right for You? Understanding the Benefits and When to Consider One

Many people believe that trusts are only for the wealthy—but that’s a misconception. A revocable living trust can be an essential part of an estate plan for anyone seeking privacy, flexibility, and control over how their assets are managed and distributed. As highlighted in a recent Columbus Monthly article, “Planning Ahead: When to Consider a Revocable Trust,” these tools offer several advantages beyond avoiding probate.

What Is a Revocable Trust?

A revocable trust is a legal arrangement allowing you to place your assets into a trust during your lifetime. You maintain control over the trust and its contents, and you can modify or revoke it at any time. When you pass away, the assets are distributed according to your instructions—without going through probate.

Benefits of a Revocable Trust

• Avoiding Probate: Probate can be a time-consuming and costly process. A trust bypasses probate, saving your beneficiaries time and money.
• Privacy: Unlike a will, which becomes a public record, a trust keeps your affairs private. Only your chosen beneficiaries and trustee know the details.
• Control Over Asset Distribution: A trust can include specific instructions on how and when assets are distributed. Whether it’s a yearly disbursement, milestone-based gifts (like college graduation), or long-term support, you set the terms.
• Protection in Incapacity: If you become unable to manage your financial affairs, a successor trustee can step in and handle matters without the need for a court-appointed guardian.

A Real-World Example

One woman placed family land, including two homes, into a trust. Her trust allows future generations to live on the land, with the option for the trustee to sell and divide proceeds once no family members wish to reside there. This thoughtful planning ensures the land remains a family resource for years to come.

Professional Guidance Is Key

While trusts offer many benefits, they must be created and funded properly. Each state has different laws, so relying on a general template—or the advice of a relative in another state—can lead to unintended consequences. Working with an experienced estate planning attorney ensures your trust is legally sound and tailored to your needs.

When Should You Consider a Trust?

• You want to avoid probate
• You prefer to keep your estate matters private
• You wish to provide for heirs over time rather than in a lump sum
• You have children from a previous relationship
• You want to protect your assets in case of incapacity

Let Us Help You Make the Right Choice

At The Werner Law Firm, we help individuals and families determine whether a revocable trust is the right fit for their estate planning goals. Whether you're seeking to protect your privacy, plan for the future, or simplify asset distribution, our experienced estate planning team can provide clear guidance and trustworthy support.

If you have any questions, schedule a free appointment with us through our online appointment page.

You can also read reviews from some of the hundreds of clients we have helped over the years.

Reference: Columbus Monthly (March 10, 2025) “Planning Ahead: When to Consider a Revocable Trust”