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How Much Money Do I Need to Form a Revocable Living Trust in Wisconsin?

Attorney Thomas B. Burton discusses the minimum amount of money necessary to form a Revocable Living Trust in Wisconsin.

For questions about this topic, or to suggest a topic for a future blog post, please contact my office. Click here to obtain my Free One Page Will vs. Trust Estate Planning Guide.

Transcript of Video: How Much Money Do I Need to Form a Revocable Living Trust in Wisconsin?

How much money do you need to have to

form a revocable living trust? I get

asked this question quite often. The

answer; there is no minimum or maximum

amount to where it makes sense to think

about revocable living trust it just

depends on each situation and what

you're trying to do. Now in Wisconsin for

any estate worth more than $50,000 it

must go through a formal probate process.

if you have an estate valued at less

than $50,000 of probate assets there is

a more simplified process that might be

possible for your estate to go through

but for most people if they own a home

or any other real estate they're often

over that $50,000 limit. Whether you want

to form a revocable living trust or not

comes down to other factors including

your thoughts on privacy whether you

want to avoid probate or not and whether

you want to plan to avoid a guardianship.

Watch my other videos for some of the

top reasons people form revocable living

trusts but the short answer is there

minimum asset level needed for a

revocable living trust? No. Are they

just for wealthy people? No. There's lots

of good reasons to form a revocable

living trust and it's a case-by-case

basis whether it makes sense for you.

© 2018 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

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