Recovable Living Trust
Also known as Living Trusts, Inter Vivos Trusts, or Loving Trusts, a revocable trust is an estate planning solution which helps an individual manage assets, or even protection should the trust holder become ill, disabled or simply challenged by the symptoms of aging. Revocable Trusts provide similar benefits to those of a will, with a few differences.
Give us a call to schedule a free estate plan review at 801-409-5022 or toll free at 877-268-9327. If you can't come to one of our branches, we'll come to you.
A revocable trust may be altered or terminated during the grantor's lifetime. Since the trust may be altered at any time until the grantor's death, it is considered part of the grantor's estate and is subject to taxation. The property is passed on to the beneficiaries only after the grantor's death, and the revocable trust then becomes irrevocable.
Most revocable trusts are written to permit the grantor to amend (or revoke) them whenever he/she wishes to do so. These trusts do not help avoid estate tax because the power to amend them causes them to be includable in your estate.
A grantor can also create an irrevocable trust, which produces tax benefits and asset protection, however, this type of trust may not be amended or revoked.
You've built your legacy—now protect it.
We invite you to come in for a free estate planning consultation at Bank of Utah. We believe serving as your trustee is about more than simply keeping records and managing investments. A good trust administrator must blend objectivity, experience and compassion to act in the best interest of the trust.
Already have an estate plan? We'll help you review it.
Don't have one? We'll help you establish one that accomplishes your goals.
To schedule a free estate plan review, give us a call at 801-409-5022 or toll free at 877-268-9327. If you can't come to one of our branches, we'll come to you.
