The ultimate gift
for your loved ones
Trust in your family’s future.
With a revocable trust, you’ll rest easy knowing that your loved ones won’t face extra hardship after you’re gone.
Our Revocable Trust Package is the ultimate estate planning bundle. Starting at $2,500, the package includes includes:
A last will and testament
Revocable trust
Quit Claim Deed
Power of attorney documents
Living Will
Skip the stress of probate
Here’s the headline: A revocable trust protects assets from probate and privately transfers inheritance without headaches.
Creating a revocable trust — also called a living trust — is like creating a business that is separate from you as an individual. A revocable trust is not a person, just like an LLC. That’s why the assets of the trust, even real estate, are not required to go through the court-supervised probate process to transfer to beneficiaries.
This can save your family thousands of dollars and months of effort.
Pricing
Package Starting at $2,500
The Revocable Trust Package includes a last will and testament, revocable trust, quit claim deed, power of attorney documents, living will, and asset-transfer plan.
The Process
You can get your revocable trust and other estate-planning documents finalized and signed at the end of your in-person appointment.
Book your revocable trust consultation directly on my calendar.
Receive an intake form in advance, which takes about 30 minutes to complete.
Meet over Zoom, or by phone for 30 minutes to discuss your estate-planning goals.
Receive a projected flat fee for legal services based on your estate planning goals and assets.
Meet in-person for approximately 2 hours to review, finalize, and sign your documents.
Store your completed documents in a safe place and tell loved ones where they are.
Change your perspective
You may think trusts are only for the ultra-wealthy. But a revocable trust is actually ideal for anyone who owns a home.
Using a revocable trust allows the real estate to pass easily to your beneficiaries: a surviving spouse, minor or adult children, beloved friends, or a favorite charity.
Depending on your situation, a revocable trust may be an essential part of an effective estate plan — one that simplifies affairs for your family and ensures that your wishes are carried out.
For example, for married couples, the trust provides an estate plan for both spouses and relieves the surviving spouse of the burden of updating their own estate plan.
What Iowans Are Saying
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“Hope guided us through a very thorough process, and completed all of the legal documents (revocable trust, revised wills, power of attorney, living wills and medical power of attorney for each of us). Very engaged, friendly, personable and professional, and very reasonable fee.”
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FAQs: Revocable Trust
Don’t see your question?
Find answers about wills, beneficiaries, notarization, and other estate-planning topics here.
What is a revocable trust?
Creating a revocable trust is like creating a business that is separate from you as an individual. A revocable trust is not a person, just like an LLC. This is why the assets of the trust are not required to go through the court-supervised probate process to transfer to beneficiaries. However, a trust must be created and funded correctly in order to be an effective asset-transfer plan.
A revocable trust requires two things:
A legal written document naming the grantor, trustee, and beneficiary, with a notarized signature by the grantor
Assets titled in the name of the trust
The legal, written document identifies the grantor (also called a settlor or trustor) as the person who is transferring the assets into the name of the trust. A joint trust has multiple grantors and is common for spouses or a group of family members.
A trust names a beneficiary or group of beneficiaries. The grantor can be the beneficiary during their lifetime, but the trust must name another beneficiary to be valid. A trust also names an event or events when the trust must terminate and the assets be distributed to the named beneficiaries.
A revocable trust can be amended or completely revoked with the consent of all of the trustees. In contrast, an irrevocable trust cannot be amended or revoked.
A revocable trust is a document separate from your will. It is only effective after it is signed and funded. Opening a bank account in the name of the trust and depositing a nominal amount of money is all that is necessary to fund the trust. If the trust is not funded, it is not valid.
A revocable trust is more expensive than a testamentary trust, but it can save your beneficiaries from having to go through the court-supervised probate process. It is also a private document, whereas a testamentary trust is filed with the court and is court-supervised.
Add a Revocable Trust when you schedule a Will in a Day®
What is a testamentary trust?
A testamentary trust is written into a will and is only effective if the conditions named in the will occur. A testamentary trust is funded by naming the trustee as the beneficiary for your financial assets after your death. For example, in a life insurance policy, you can name as a beneficiary: “Leslie Knope as Trustee of the Ron Swanson Testamentary Trust.”
A trust isn’t just for people with large assets. And, in most families, it isn't for tax-planning purposes. A testamentary trust is part of your will and takes effect on your death; there is no management of the trust during your lifetime.
Trusts for minor children: A basic will—one that you can purchase online or through an office supply store—will not include a trust. Will in a Day® for parents with minor children automatically includes a testamentary trust. Without the trust, minor children will have access to their full inheritance at age 18. In the trust, you set out what ages and what amounts are distributed to the children.
Trusts for surviving spouse and adult children: A revocable trust in tandem with a will can prevent your assets from being subject to the court's probate process. Creating a revocable trust means a surviving spouse doesn't have to update his or her will in the future to avoid probate for adult children beneficiaries.
Life insurance and trusts: The easiest way to fund a trust for your children is to take out a life insurance policy and name the trust as the beneficiary. A life insurance policy can also be designated to pay for your funeral and burial, which costs an average of $10,000. Without planning, these costs have to be paid by the survivors.
What is a trust?
A trust is an entity created and governed under the state law in which it was formed. A trust involves the creation of a fiduciary relationship between a grantor, a trustee, and a beneficiary for a stated purpose. A trust may be created by any of the following methods:
A declaration by the owner of property that the owner holds the property as trustee;
A transfer of property by the owner during the owner's lifetime to another person as trustee;
A transfer of property by the owner, by will or by other instrument taking effect upon the death of the owner, in trust, to another person as trustee or
An exercise of a power of appointment to another person as trustee or an enforceable promise to create a trust.
Source: Internal Revenue Service
Who is the grantor of a trust?
The grantor (also known as trustor, settlor, or creator) is the creator of the trust relationship and is generally the owner of the assets initially contributed to the trust. The grantor generally establishes in the trust instrument the terms and provisions of the trust relationship between the grantor, the trustee, and the beneficiary. These will usually include the following:
The rights, duties, and powers of the trustee;
Distribution provisions;
Ability of the grantor to amend, modify, revoke, or terminate the trust agreement;
The designation and selection of a trustee or successor trustees; and
The designation of the state under which the terms and provisions of the trust agreement are to be governed.
Source: Internal Revenue Service
What is a trustee/fiduciary?
The trustee obtains legal title to the trust assets and is required to administer the trust on behalf of the beneficiaries according to the express terms and provisions of the trust agreement. A fiduciary is an individual or organization charged with the duty to act for the benefit of another. A trustee is a fiduciary.
Source: Internal Revenue Service
What is a beneficiary?
The beneficiaries are those entitled to receive benefits from the trust.
Source: Internal Revenue Service
What is a grantor trust?
"Grantor trust" is a term used in the Internal Revenue Code to describe any trust over which the grantor or other owner retains the power to control or direct the trust's income or assets. If a grantor retains certain powers over or benefits in a trust, the income of the trust will be taxed to the grantor, rather than to the trust. (Examples, the power to decide who receives income, the power to vote or to direct the vote of the stock held by the trust or to control the investment of the trust funds, the power to revoke the trust, etc.) All "revocable trusts" are by definition grantor trusts. An "irrevocable trust" can be treated as a grantor trust if any of the grantor trust definitions contained in Internal Code §§ 671, 673, 674, 675, 676, or 677 are met. If a trust is a grantor trust, then the grantor is treated as the owner of the assets, the trust is disregarded as a separate tax entity, and all income is taxed to the grantor.
Source: Internal Revenue Service
What are irrevocable/revocable trusts?
An irrevocable trust is a trust, which, by its terms, cannot be modified, amended, or revoked. For tax purposes an irrevocable trust can be treated as a simple, complex, or grantor trust, depending on the powers listed in the trust instrument. A revocable trust may be revoked and is considered a grantor trust (IRC § 676). State law and the trust instrument establish whether a trust is revocable or irrevocable. If the trust instrument is silent on revocability, then most states consider the trust revocable.
Source: Internal Revenue Service
What are testamentary and Inter Vivos trusts?
A testamentary trust is created by a will, which begins its existence upon the death of the person making the will, when property is transferred from the decedent's estate. Testamentary trusts are generally simple or complex trusts. A testamentary trust is irrevocable by definition, as it comes into being at the death of the grantor. A living person creates an Inter Vivos trust during that person's lifetime. An Inter Vivos trust can be established as revocable or irrevocable. An Inter Vivos trust can be a simple, complex, or grantor trust depending on the trust instrument.
Source: Internal Revenue Service
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