Minnesota Revocable Trusts information from the Maki Law Firm

In Minnesota, a Revocable Trust is one created while a person is alive and can be changed or revoked (terminated) at any time during the Grantor's lifetime - as long as they are still competent to do so (the 'Grantor' is the person who establishes the Trust).

NOTE: A Revocable Trust BECOMES Irrevocable when the Grantor dies, becomes incapacitated - e.g. comatose, or is determined to be incompetent.

Revocable Trusts are the most well-known and popular Trust type. This is mostly due to the powerful benefits and protections they can provide at a relatively low cost. The virtually unlimited options possible with a Revocable Trust provide an amount of flexibility not offered by any of the other Estate Planning tools.

A Will is a basic and necessary part of any Minnesota Estate Plan. However, adding a Revocable Trust gives the savvy Estate Planner the edge in asset control, asset distribution, asset protection, reducing estate taxes - if necessary, reducing estate fees, increasing privacy and an overall reduction in estate administration hassle - ALL of which your family and loved ones will appreciate.

Check out this helpful information on Minnesota Revocable Trusts:

What is a MN Revocable Living Trust Maki Law FirmWhat is a Minnesota 'Revocable Living Trust'?

As there is not a uniform legal definition, we need to combine generally accepted definitions of 'Revocable Living Trust' components to gain a reasonable understanding.

Wills vs Trusts - Top 14 Trust Benefits in MN Estate PlanningTop 14 Benefits of Trusts You NEED to Know in 2019!

Why should you use a Trust when a Will so much cheaper? A Will IS a basic, and necessary, part of any Estate Plan, but they are no match for the power of Trusts. These Top 14 Benefits of Trusts explain why!

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