Yes, in most cases. As long as you have the legal capacity to do so, you can revoke or replace a will, and a revocable trust can generally be modified or revoked during your lifetime. Irrevocable trusts are much more limited in changes that can be made. A Connecticut estate planning attorney, such as Connecticut Attorney Geoffrey T. Einhorn, can help you make updates when your circumstances or goals change.
Most adults should have a will, durable power of attorney, advance health directives, appointment of healthcare agent, designation of conservator, and, depending on their circumstances, a revocable living trust. An estate planning attorney can recommend the documents that best fit your individual needs and goals. The Law Offices of Geoffrey T. Einhorn, LLC can recommend the documents that best fit your personal, family, and financial needs.
You should review your estate plan every three to five years or whenever you experience a major life event, such as marriage, divorce, the birth of a child, a death in the family, or significant financial changes. Attorney Geoffrey T. Einhorn recommends regular updates to help ensure your documents continue to reflect your wishes.
Yes, but only if it is properly funded. Assets that are transferred into a living trust during your lifetime generally avoid probate and can pass directly to your beneficiaries. However, any assets left outside of the trust may still need to go through probate and pass by a will.
Revocable Trust: can generally be changed or revoked during your lifetime, providing flexibility as circumstances change.
Irrevocable Trust: is typically more difficult to modify but may offer benefits such as asset protection or tax planning in certain situations.
The Law Offices of Geoffrey T. Einhorn, LLC can help you determine which type of trust best meets your goals.
A will directs how your assets are distributed after your death and generally goes through probate.
A trust can manage assets during your lifetime and after your death and may help simplify the transfer of property to your beneficiaries and minimize probate.
Attorney Geoffrey T, Einhorn can help determine whether a will, trust, or combination of both is right for your estate plan.
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