“RLT” is an acronym for “revocable living trust”. Many are confused about the value and use of RLTs. While the new federal tax law passed in December 2010, “TRUIRJCA”, increases the “unified” exemption to $5 million, the tax law hardly obviates the value and benefits of RLTs. RLTs allow you to comprehensively manage your affairs and financial planning; allow you to manage your property for your benefit while you are alive; allow you to plan for and protect yourself in the case of disability; allow you to give your property away when you want, to whom you want, and in the manner you want; allow you to avoid onerous probate administration that might otherwise be required; and allow you to do all this in privacy.
