Revocable Trusts

Revocable trusts, otherwise known as “living trusts,” do not protect your assets from creditors. In fact, they are subject to collections actions and lawsuits, and they are included when third parties evaluate your personal assets. With a revocable trust, you are typically both the founder and the trustee. This means that you both create the trust and manage its assets and operations. You also have full access to the trust’s terms, beneficiaries and assets at all times. You can change how the trust operates, who benefits from it and even dissolve the trust at will. In addition, you can also take assets back out of the trust as you see fit. #revocabletrust,