What Is a Revocable Living Trust?

A revocable living trust is one of the most flexible and commonly used estate planning tools in Washington State. It is a legal document that places your assets into a trust during your lifetime, allowing you to manage them as the trustee. The term “revocable” means you can amend, change, or even cancel the trust at any time during your life—as long as you’re mentally competent.

Upon your death or incapacity, a successor trustee—someone you designate—steps in to manage or distribute your assets according to the instructions laid out in the trust.

The Primary Purpose of a Revocable Living Trust

The main purpose of a revocable living trust is to:

• Avoid probate upon death
• Maintain control over your assets during your lifetime
• Ensure continuity if you become incapacitated
• Provide a smooth transition of asset management after your passing
• Keep your affairs private and outside of the public record

It’s a powerful way to organize your assets, reduce legal hassles for your family, and ensure your wishes are carried out efficiently.

Pros of a Revocable Living Trust

Creating a revocable living trust comes with several advantages, especially for residents of Pierce County:

✅ Avoid Probate
Probate in Washington can take months and cost thousands in legal fees. A revocable living trust avoids the court process entirely if properly funded, making the transfer of assets to your heirs faster and more cost-effective.

✅ Retain Control
As the trustee, you maintain full authority over your assets. You can buy, sell, transfer, or change beneficiaries without needing court approval.

✅ Plan for Incapacity
If you become incapacitated due to illness or injury, your successor trustee can immediately step in and manage your affairs—avoiding the need for court intervention or a guardianship proceeding.

✅ Maintain Privacy
Unlike a will, which becomes part of the public probate record, a revocable living trust remains private. Your assets and who inherits them stay confidential.

✅ Customizable Distribution
You can set specific terms for how and when beneficiaries receive their inheritance. For example, you can stagger distributions over time or set conditions (e.g., graduating college, reaching a certain age).

Cons of a Revocable Living Trust

While revocable living trusts offer many benefits, they may not be suitable for everyone. Some potential drawbacks include:

❌ No Tax Benefits
Revocable trusts do not offer estate tax protection while you’re alive. Because you retain control over the assets, they are still considered part of your taxable estate.

❌ Upfront Cost and Effort
Creating and properly funding a trust can be more expensive and time-consuming than creating a will. You must retitle assets into the name of the trust, which may require help from an attorney.

❌ No Asset Protection
Because the trust is revocable, the assets in it are not protected from your creditors, lawsuits, or divorce during your lifetime.

Why Pierce County Residents Should Consider a Revocable Living Trust

For individuals and families in Pierce County—including Tacoma, Puyallup, Lakewood, and surrounding communities—a revocable living trust can provide stability, clarity, and efficiency when it matters most.

Here’s why locals are turning to revocable living trusts:

✔ High Property Values
Pierce County homeowners often have substantial equity in their properties. A trust ensures real estate transfers smoothly without probate delays.

✔ Family Continuity
Blended families, second marriages, and dependents with special needs are increasingly common. A trust allows tailored instructions to protect all loved ones fairly.

✔ Business Owners
If you own a small business, a trust can provide a clear succession plan that keeps operations running smoothly if something happens to you.

✔ Elder Care Planning
As medical costs rise, planning for potential incapacity is essential. A trust gives loved ones legal authority to act without court interference.

How Whalley Law Can Help with Your Revocable Living Trust

At Whalley Law, our experienced estate planning attorneys understand the unique needs of Pierce County residents. We don’t just draft documents—we create tailored estate plans that protect your assets, minimize stress for your family, and ensure your wishes are respected.

Here’s what you can expect from our team:

• Thorough consultation to understand your goals and concerns
• Customized trust documents built specifically for your needs
• Funding support to ensure your trust is properly activated
• Ongoing guidance as your life, assets, or family circumstances change

We take pride in offering compassionate, competent legal services that bring peace of mind to families across Pierce County.

Don’t Wait—Start Your Estate Planning Today

The best time to create a revocable living trust is before you need it. Whether you want to avoid probate, plan for incapacity, or simply gain control over your legacy, a trust can provide the structure and security you need.