Revocable
Trusts
A revocable trust is created
to accept ownership of your assets
during your lifetime. This is appealing
for several reasons:
- You may retain complete management,
control, use and distribution
of your trust assets. If you prefer,
you can designate someone else
to serve as trustee for you.
- You select an alternative trustee
in the event you become incapacitated.
The trustee will manage the trust
funds for you. The trust should
clearly state how to determine
incapacity.
- You can add or remove assets
from the trust or change any of
the terms at any time as you determine
in your sole discretion.
- At your death, the trust becomes
irrevocable and provides for the
distribution or the continued
management of the remaining assets
in the trust by the successor
trustee. The distribution is private;
no involvement of probate.
For more information about trust services or any other service provided by New Covenant Trust Company, please contact Chip Walker at 800-528-4083, ext. 5912 or e-mail at cwalker@newcovenanttrust.com. Contact your tax advisor to determine how these trusts would actually affect your estate. |
