Brent Carlson highlights the significance of revocable living trusts for preserving assets and ensuring they are distributed according to one’s wishes. "Revocable living trusts are crucial for protecting your family from probate and ensuring your estate goes to the right hands," he explains. Brent shares an example of a client who directed his entire estate to the Tunnel to Towers Foundation, illustrating the flexibility of these trusts to reflect personal values.

Within a revocable living trust, Brent notes, clients can set specific conditions for distributing assets. "You can include dynasty language to reinvest a portion of assets back into a family bank or whole life insurance policy, ensuring long-term wealth for future generations," he says. This approach allows for controlled asset distribution, such as delaying full inheritance until beneficiaries reach certain milestones or ages.

However, Brent cautions that revocable living trusts do not provide asset protection. "Anything inside the trust can be taken in the event of a lawsuit," he warns, advising clients to carefully select which assets, such as a primary residence or personal jewelry, are placed in the trust.

He concludes by emphasizing the role of revocable living trusts in avoiding probate and preserving wealth for heirs. These trusts also include essential documents like powers of attorney and healthcare directives, ensuring comprehensive estate planning.