The use of a revocable trust (sometimes referred to as a “living trust” or “family trust”) to plan one’s estate has become very popular. Despite the popularity of the revocable trust, revocable trusts are not without their potential problems.
In order to discourage disappointed heirs from disputing your estate plan, you can include a “no-contest” provision that automatically cancels an heir’s inheritance if he or she challenges the distribution of your assets in any way.
Many people think an estate plan only involves drafting a document before you die that will distribute your assets upon your death… an equally important part of an estate plan should include what happens to you and your assets while you are living.
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