The 5 P's of Revocable Living Trusts

While most people have heard of trusts, I don't think it's a stretch to say that many people lack a clear understanding of how trusts work and the benefits they offer estate planning clients. They tend to think of trusts in the context of "trust fund babies" and dynasty trusts used by the ultra-wealthy. But, revocable living trusts offer incredible benefits to all - regardless of the size of your estate - that a Will cannot match. I call these benefits the 5 P's. This post focuses on the first 2 P's: Privacy and Probate Avoidance.