Estate and Probate Attorney in Cincinnati Ohio » How to avoid probate http://www.ohioprobateanswers.com Cincinnati Probate Attorneys: Elliott Stapleton, D. Todd Rush, and John Cornetet Thu, 05 Jan 2017 20:48:57 +0000 en-US hourly 1 https://wordpress.org/?v=4.2.39 What is a Revocable Living Trust? http://www.ohioprobateanswers.com/estate-planning/what-is-a-revocable-living-trust/ http://www.ohioprobateanswers.com/estate-planning/what-is-a-revocable-living-trust/#comments Tue, 29 Mar 2011 08:27:03 +0000 http://032b5f3.netsolhost.com/wordpress/?p=44 Read more]]> There are three main purposes for using a revocable living trust as a part of your estate plan.  The purposes are:

  • Reduce or eliminate estate taxes
  • Control over the beneficiary’s inheritance
  • Probate avoidance

During life, the creator of a Revocable Living Trust (also known as the Settlor), can change the distribution plan. Upon the death of the Settlor (or both Settlors if there are more than one) the Trust then becomes irrevocable and cannot be changed.

 

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