Consider a Revocable Living Trust to Protect Beneficiaries

Using a revocable trust can provide you with a number of benefits when estate planning. In some cases, people will use this to help protect their beneficiaries. Here are a few things to consider about using a revocable living trust to protect your beneficiaries.

Revocable Trust

A revocable trust is a tool that is commonly used by individuals that want to have some control over what happens to their assets when they die. Since it is a revocable trust, you can alter it anytime that you want while you are still alive. Therefore, if anything changes, you are free to alter the terms of the trust.

Protect Beneficiaries

Many people that have sizable estates use this tool in order to protect their beneficiaries. With the revocable trust, you can provide payments over time to your beneficiaries. By spreading out the inheritance that your beneficiaries receive, you will be able to prevent them from using the money irresponsibly. Making payments over a long period of time will make it more difficult for your beneficiaries to waste the money on frivolous purchases. If you provide them with a lump sum, it is much easier for them to waste their inheritance and they will have nothing left in the future.

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