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By Cynthia Rignanese
Contributing Writer 

Here are a Few Good Tips About Living Trusts for People of All Ages

 

Last updated 5/26/2020 at 3:36pm

Many people still have the wrong impression that living trusts are only for high-wealth people. While it is true that persons with large estates have added tax benefits, the general premise that living trusts should only be used by persons with big estates is wrong.

The revocable living trust is a useful and popular estate planning vehicle for persons with more or less than the federal estate tax floor amount representing the amount of assets required before federal estate taxes are due.

A revocable living trust offers a number of advantages. The first advantage is the large degree of flexi...



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