Revocable Living Trusts

Flexible Estate Planning That Keeps You in Control

A revocable living trust is one of the most effective tools for simplifying estate planning while keeping full control over your assets during your lifetime. Unlike an irrevocable trust, a revocable trust can be changed, amended, or revoked at any time.

Sheridan Lawyers helps clients in Chester County, Delaware County, and Montgomery County, Pennsylvania, create revocable living trusts that protect assets, avoid probate, and ensure a smooth transfer to loved ones.

What Is a Revocable Living Trust?

A revocable trust is a legal document that:

• Holds title to your assets (real estate, bank accounts, investments) during your lifetime.

• Allows you to manage, use, and change those assets as long as you are alive and capable.

• Names a successor trustee to manage and distribute assets upon your incapacity or death.

The key benefit: Upon your death, assets in a revocable trust avoid probate—saving your loved ones time, court costs, and unnecessary stress.

Benefits of a Revocable Living Trust

• Avoids Probate: Transfers assets to beneficiaries without court involvement.

• Privacy: Unlike a will, a trust is not part of the public record.

• Flexibility: Can be amended or revoked as your life and wishes change.

• Continuity: Ensures seamless management of your affairs if you become incapacitated.

• Organization: Consolidates your estate planning into one clear, central document.

Revocable vs. Irrevocable Trusts

• Revocable Trust: Flexible, can be changed, does not provide asset protection or tax benefits during your lifetime.

• Irrevocable Trust: Cannot be changed easily, but offers protection from creditors and potential tax advantages.

Most clients start with a revocable trust as the foundation of their estate plan, sometimes converting assets to irrevocable structures later for advanced planning.

Why Choose Sheridan Lawyers for Trust Planning?

• Customized Plans: No two families are alike. We draft trusts that reflect your specific goals.

• Full Estate Integration: We ensure your trust works seamlessly with your will, powers of attorney, and healthcare directives.

• Guidance on Funding: We help transfer assets into your trust (a critical step often overlooked).

• Experience: We bring clarity and precision to every stage of the process.

Frequently Asked Questions – Revocable Trusts