With the tough times we have been going through these days, many people have paused to look towards the future. Within that is the crucial step that many miss, Estate Planning.
So, with that said, you have several options, including a Revocable and/or an Irrevocable Trust. But many people do not know the difference. Do you?
Irrevocable vs. Revocable Trust
Estate Planning Attorney, Mindy Felinton says, “You need to see the big picture and to understand what you want in the present and in the future. A Revocable Trust can be changed over time and is used to avoid the complex Probate process and can protect your privacy, as well as the privacy of your beneficiaries. With an Irrevocable Trust, you avoid Probate, protect your privacy, and also protect your assets from long term care costs, creditors and many other situations.”
Since there are benefits and drawbacks to both, it can be hard to know which type of trust is right for you, so start by determining what works best for you and your family.
Why Choosing a Estate Planning Attorney is the Best Option
Speaking with a qualified Elder Law and Estate Planning Attorney can help you decide upon your best options moving forward.
With over 30 years of experience, Attorney Mindy Felinton provides customized Elder Law and Estate Planning services, to fit you and your family’s needs, and will be there to guide you every step of the way to ensure you have the absolute best possible solution.
Felinton Elder Law & Estate Planning Centers is based in Florida and Maryland. Mindy’s firm provides Elder Law and Estate Planning services to families in Rockville, Maryland, Broward and Palm Beach Counties.
Give Mindy’s team a call at (301) 610-0055 or (561) 290-2179. Mindy has offices both in South Florida as well as in Rockville, Maryland.