Concepts You Need to Know
Revocable living trust
A trust you control during your lifetime that passes assets to heirs without probate. Avoids public record, reduces delays, and can include instructions the trustee must follow.
Probate
The court process for distributing an estate. Can take 1–3 years, costs 3–7% of the estate's value, and becomes public record. Proper planning avoids it entirely.
Step-up in basis
When heirs inherit an asset, its cost basis "steps up" to fair market value at death. A stock bought for $10k worth $500k at death transfers with a $500k basis — eliminating $490k in capital gains.
Take Action Now
1
Create or update your will, trust, and power of attorney documents.2
Review every beneficiary designation: IRA, 401k, life insurance, bank accounts.3
Have "the conversation" with your heirs about your wishes and the plan.Want a personalized plan?
Connect with a licensed agent who can apply these concepts to your specific numbers.
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