The Trust Package is ideal for individuals or couples with more complex estate planning needs, especially those with significant probate assets and a preference for greater control over how assets are managed and distributed.

This package includes a revocable living trust, which can be changed or revoked during the grantor’s lifetime and becomes irrevocable upon death.

Compared with a will, a trust offers three key benefits: it can avoid probate, provide for incapacity, and give the grantor more control over how assets are distributed. The main drawback is the higher upfront cost, which may be offset by avoiding probate expenses.

Avoid Probate

A major benefit of a trust is that assets titled in the trust can pass outside probate. Probate is the court-supervised process of validating a will and distributing assets. It generally applies to assets owned individually that do not have a joint owner or designated beneficiary.

Many people seek to avoid probate because it can be costly, time-consuming, and public. In Virginia, probate often costs 3–5% of the estate’s value and may delay final distributions for more than a year.

Incapacity Planning

Temporary or permanent incapacity can arise unexpectedly. Without incapacity planning, the court might need to step in to appoint a conservator or guardian to handle your personal assets while you are incapacitated. This process is often costly and complex. 

A trust helps ensure assets can be managed and transferred smoothly if the grantor becomes unable to act, while a will does not provide that protection.

Note: while the Durable General Power of Attorney we provide assists in incapacity planning, a revocable living trust can more clearly expresses the grantor’s wishes.

Control Over Distribution

Trusts also give grantors more control over asset distribution by allowing them to set terms for when and how beneficiaries receive assets. They can be customized with subtrusts for specific purposes, such as testamentary minor, special needs, or spendthrift provisions. 

Included in the Trust Package:

• Individual or Joint Trust 
• Assignment of Personal Property to Trust
• Durable General Power of Attorney
• Advanced Healthcare Directive
• Disposition of Remains Document
• Pourover Will (acts as a safety net to transfer assets into the trust)

Other Trust Types

Trusts offer many customization options, but in some cases the best way to meet a specific goal is to create a trust designed for that purpose. Other trusts we offer include:

Special Needs Trust

Credit Shelter Trust

Irrevocable Life-Insurance Trusts