Estate and Probate Attorney in Cincinnati Ohio » revocable trust 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 the Difference Between a Testamentary Trust and Revocable Trust? http://www.ohioprobateanswers.com/trust-administration/what-is-the-difference-between-a-testamentary-trust-and-revocable-trust/ http://www.ohioprobateanswers.com/trust-administration/what-is-the-difference-between-a-testamentary-trust-and-revocable-trust/#comments Tue, 29 Mar 2011 09:06:40 +0000 http://032b5f3.netsolhost.com/wordpress/?p=121 Read more]]> A testamentary trust is a trust that is drafted into a will.   Thus, the will is both a will and a trust.  It might provide that the estate goes to the decedent’s husband if living and if not then in trust for the benefit of the minor children for their support until age 25.  Not only does the will go through Probate, the trust also is monitored and controlled by Probate Court.  Thus, if the youngest child was three, the Probate Court would have jurisdiction over the trust for 22 years.  Thus, attorney’s fees and court cost continue for this period of time.

A revocable trust is a trust that is a separate legal document apart from the will.  It is not controlled and supervised by Probate Court.  Therefore, the cost of administration is lower.

]]> http://www.ohioprobateanswers.com/trust-administration/what-is-the-difference-between-a-testamentary-trust-and-revocable-trust/feed/ 0 What Is a Basic Estate Plan? http://www.ohioprobateanswers.com/estate-planning/what-is-a-basic-estate-plan/ http://www.ohioprobateanswers.com/estate-planning/what-is-a-basic-estate-plan/#comments Tue, 29 Mar 2011 08:22:03 +0000 http://032b5f3.netsolhost.com/wordpress/?p=34 Read more]]> The term estate planning is very broad and encompasses everything from preparing a basic power of attorney to complex planning.  The process of estate planning simply means creating written legal documents to define your wishes for a period when you are unable to communicate due to incapacity or death.  Some people comment, “I don’t need an estate plan because I don’t have anything”.  But these legal documents are necessary even if you don’t have much in the way of assets.

A basic estate plan can include one or more of the following legal documents:

  • Last Will and Testament
  • Power of Attorney
  • Power of Attorney for Health Care
  • Living Will
  • Revocable Living Trust

Each of these documents is described in more detail in the next five questions.

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