The Importance of a Revocable Trust

If you own a house in joint tenancy, it takes both signatures to sell that house. So what are you going to do now? Now you have to go down to probate court. That will cost you a lot of money. Have your spouse or whoever you own that house with in joint tenancy declared incompetent so you can sign for him or her and vice versa. If you create the revocable trust, you are known as the trust store. And you have the ability to modify that trust, amend that trust, revoke the trust, do anything you want during your lifetime. It does not change your tax status. Everything stays the same. All that changes is that everything now is in