Legal Question in Wills and Trusts in Ohio

Re: revocable trust vs living trust

A living trust is made and is in effect while the trust maker is alive. Most of them are also revocable. A revocable trust simply means it can be revoked (or changed) during the maker's lifetime.

(I live in Whitehouse, also.)

Re: revocable trust vs living trust

A living trust is a trust created during your lifetime, and not created in your will.

A living trust can be revocable, which means you can remove assets from the trust, modify the trust, or even completely revoke the trust as long as you are alive. The trust only becomes irrevocable at your death.

A living trust can also be irrevocable, which generally means that you cannot control the assets once you transfer them to the trust.

What is most likely appropriate for you is a revocable living trust.

Almost everyone with minor children should have a revocable living trust to prevent children from inheriting at 18, the age of adulthood in Ohio.

You are not likely to need an irrevocable trust, which has specialized uses often tied to estate tax planning.

There are other advantages to a revocable living trust. You need to consult an attorney skilled in estate planning for complete information.