Estate Planning
Trusts Attorney in Wilmington, NC
A revocable living trust allows your estate to pass to heirs without probate — faster, more privately, and with greater control than a will alone.
How a Revocable Living Trust Works
A revocable living trust is one of the most powerful tools in estate planning. You create the trust, transfer your assets into it, and serve as the trustee — maintaining full control during your lifetime. When you pass away, a successor trustee you've named distributes assets to your beneficiaries according to your instructions, without court involvement.
Benefits of a Revocable Living Trust
- Avoids probate — Assets pass directly to beneficiaries without court involvement
- Privacy — Unlike a will, a trust is not a public record
- Incapacity planning — Your successor trustee can manage assets if you become incapacitated
- Multi-state property — Avoids ancillary probate in other states where you own real estate
- Control — Specify conditions for distributions to beneficiaries
- Continuity — Seamless management of your affairs without court delays
Trust Funding: The Critical Step
A trust only controls assets that are properly transferred into it — a process called "funding." David helps clients fund their trusts correctly, ensuring real estate, bank accounts, investment accounts, and other assets are titled in the name of the trust. An unfunded trust provides no probate-avoidance benefit.
Other Trust Structures
Beyond revocable living trusts, David advises clients on irrevocable trusts for asset protection, special needs trusts for disabled beneficiaries, and testamentary trusts created through a will for minor children. Each structure serves a different purpose, and the right choice depends on your family's unique circumstances.
Frequently Asked Questions
What is a revocable living trust?
A revocable living trust is a legal arrangement where you transfer ownership of your assets to a trust during your lifetime. You serve as the trustee and retain full control. Upon your death, assets pass to your named beneficiaries without going through probate.
Does a trust avoid probate in North Carolina?
Yes — assets held in a properly funded revocable living trust pass directly to beneficiaries without probate. This can save time, reduce costs, and keep the transfer private.
Do I still need a will if I have a trust?
Yes. Even with a trust, a "pour-over will" is recommended to capture any assets not transferred to the trust during your lifetime. It also allows you to name guardians for minor children.
What is the difference between a revocable and irrevocable trust?
A revocable trust can be changed or revoked at any time during your lifetime. An irrevocable trust generally cannot be changed once established, but may offer asset protection and tax benefits. David will help you determine which type fits your goals.
Schedule a Consultation
Call us at 910-509-7287 or fill out the form below.
Ready to Create a Trust?
Contact David E. Anderson PLLC to discuss whether a revocable living trust is right for your family.
9111 Market St, Suite A, Wilmington, NC 28411
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