There are several people who have some misconceptions about the revocable trust due to which they never prefer to create a trust for the property or business they have.
So, if you are also one of them, then it is important for you to clear all your misconceptions by contacting the living trust attorney Orange County who will give you a detailed knowledge of revocable trust.
Below are some of the common myths people have about the revocable trust:
Lose control with a revocable trust
This is one of the most common myth people have about the revocable trust which actually is not correct. In actual you gain control by having a revocable trust. The full control of everything is under the control of the trust. It allows you to change the entire thing to get rid of it at any time you want.
So, by contacting the family trust California you can create a revocable trust at any time you want.
No need to worry about probate once created a revocable trust
It is true that after creating a revocable living trust, probate is avoided. But simply the creation of the trust is not enough to obtain the benefits offered by it. Once the trust is created, then all you need to do is begin with the funding process.
Funding is the process in which you need to transfer your property into the trust’s name as the new owner. So, never forget to transfer your property otherwise the trust would be of no use.
Thus, these are some of the misconceptions people have about the revocable trust because of which they never prefer to create a revocable trust. You can also check this useful reference to know more about the revocable trust which is important for you if you don’t want your loved ones to be in trouble after your death.