Common Misconceptions of RLTs

An alarming number of clients don’t understand the basics of Revocable Living Trusts.  In this session, Kate and Victoria will dispel some of those misconceptions and provide answers for conversations with clients around subjects such as:

• Are assets in an RLT protected from creditors, predators, and divorce?
• Do clients have access to assets once they place them in an RLT?
• Should they gift real properties during their life to their kids rather than gift at death? Will the kids have to pay taxes when they receive assets from an inheritance?
• Can the IRS “see” assets once they are placed in the RLT?
• Can they avoid the need for an RLT by adding the kids to their accounts and/or making beneficiary designations?

Presented by Kate Langmore, Esq. and Victoria Ralis, Esq.