A revocable trust allows for the professional management of your assets for you and your family during your lifetime and following your death. This type of trust keeps your assets out of probate, ensures that your beneficiaries are provided for in a timely manner and keeps the assets of your estate from becoming public record.

A revocable trust offers flexibility, provides for special circumstances and benefits individuals.

Characteristics include:

• Established while you are living and may be changed throughout your lifetime.

• Does not provide tax shelter advantages.

• Assets are professionally managed.

• Trustee becomes responsible for paying taxes and handling the related administrative tasks, a benefit for those with a chronic illness or long-term disability.

• Orderly disposition of assets to your children, assurance of privacy and avoidance of expense related to probate court.

• Married individuals can strategically use their unified credits with a revocable trust to save estate taxes.