December 11, 2025
A Modern Approach to Protecting Your Family’s Future At B. S. Johnson Law, PLLC, we believe that the law should be accessible, transparent, and precise. Founded with a commitment to aiding others, our firm stands as a pillar of support for individuals and families across Richmond, Virginia, and the surrounding Commonwealth. We understand that seeking legal counsel is often a result of life’s most stressful moments, and too often, this stress is compounded by the fear of open-ended legal bills. That is why our firm is renowned for its dedication to delivering cost-effective, flat-fee legal services, allowing you to focus on your future rather than your finances. When it comes to securing your family’s financial future and ensuring your legacy is passed on smoothly and privately, the Revocable Living Trust is the gold standard. Many people assume a simple Will is enough, but for those seeking greater control, privacy, and efficiency, a Trust offers advantages that a Will simply cannot match. This post will clearly explain what a Revocable Living Trust is, how it works, and why it is the superior choice for a modern, comprehensive estate plan. What is a Revocable Living Trust? Defining the Basics A Revocable Living Trust (RLT) is a legal document, similar to a Will, that you create during your lifetime to hold ownership of your assets. The key components of an RLT involve three roles: The Grantor (or Settlor): This is you—the person who creates and funds the Trust. The Trustee: This is the person or entity responsible for managing the assets held in the Trust. When you create an RLT, you are typically the initial Trustee, meaning you maintain complete control over all your assets exactly as you did before creating the Trust. The Beneficiaries: These are the individuals or charities who will ultimately receive the assets from the Trust after the Grantor’s death. The term “Revocable” means you can change, amend, or completely revoke (cancel) the Trust at any time while you are alive and mentally competent. The term “Living” simply means the Trust is created and takes effect during your lifetime. Four Key Advantages of a Revocable Living Trust While a Will is a foundational estate document, it is limited. A Revocable Living Trust provides powerful benefits in four critical areas: Avoiding Probate, Ensuring Privacy, Managing Incapacity, and Protecting Heirs. 1. The Probate Problem: Why Trusts Avoid It Unlike a Will, which must go through the public, expensive, and time-consuming probate court process, a properly funded Trust allows your assets to pass directly to your beneficiaries immediately upon your death. The Costly and Public Nature of Probate Probate is the court-supervised process of proving a Will’s validity, taking an inventory of assets, paying debts and taxes, and distributing the remaining property. Time: Probate often takes many months, sometimes even a year or more, during which your beneficiaries may not be able to access the inheritance they need. Cost: Court fees, attorney fees, and executor fees can easily consume a significant percentage (often 3% to 7%) of the estate’s value. Public Record: Everything filed with the probate court—your Will, an inventory of your assets, the names of your beneficiaries, and the distribution amounts—becomes part of the public record, accessible to anyone, including identity thieves and unwanted solicitors. Since the Trust legally owns the assets, and the Trust terms dictate their distribution, the assets bypass the probate court entirely. This feature alone saves your family significant time, money, and stress. 2. Ensuring Seamless Management During Incapacity One of the most valuable aspects of an RLT is its ability to handle your financial affairs if you become mentally or physically incapacitated. If you only have a Will and you become incapacitated, your family would likely have to petition the court to appoint a Conservator or Guardian to manage your finances. This is another court process that is costly, stressful, and intrusive. With a Trust, you name a Successor Trustee (often your spouse, a trusted child, or a professional fiduciary) in the document. The moment your primary doctor declares you incapacitated, the Successor Trustee can step in immediately and manage the Trust assets for your benefit without any court involvement. This ensures your medical and living expenses are paid and your financial life continues without interruption. 3. Ultimate Control Over Asset Distribution We design trust-based plans that allow you to manage your assets during your lifetime and provide specific rules for how they are distributed after you are gone. This is particularly crucial for parents who want to protect their children’s inheritance. For instance, rather than giving a large lump sum to a young adult beneficiary who may not be financially mature, the Trust can specify: Staggered Distribution: The beneficiary receives 1/3 of the inheritance at age 25, 1/3 at age 30, and the remainder at age 35. Incentive Trusts: Funds are distributed only for specific purposes, like education, starting a business, or a down payment on a home. Spendthrift Protection: The assets are protected from a beneficiary's creditors, ex-spouses, and poor financial decisions. 4. Maximizing Privacy and Confidentiality As mentioned, a Will becomes a public document. A Revocable Living Trust, however, remains a private document. Only your current Trustee and Successor Trustee need to see the instructions for asset distribution. This privacy is invaluable for families who wish to keep their financial details and inheritance plans confidential. The Comprehensive Trust-Based Plan A standalone Revocable Living Trust is only one part of the estate plan. At B. S. Johnson Law, we provide a complete package to ensure every aspect of your future is secure. A comprehensive RLT plan includes: The Revocable Living Trust Document: The core document that holds your assets and outlines the distribution plan. A Pour-Over Will: This "catches" any asset that was accidentally left out of the Trust and directs that it be placed into the Trust upon your death. While it may require probate for the stray asset, it ensures all your property eventually falls under the Trust's protective umbrella. Durable Power of Attorney: Appoints an agent to handle financial and legal matters that fall outside the Trust (e.g., taxes, social security). Advance Medical Directives: These documents (sometimes called a Health Care Power of Attorney and Living Will) appoint someone to make medical decisions for you and express your wishes regarding life-sustaining treatment if you cannot speak for yourself. The final and most crucial step is funding the Trust—retitling assets (like real estate, bank accounts, and brokerage accounts) from your individual name into the name of the Trust. We guide our clients through this essential process to ensure the Trust is effective when you need it most. Peace of Mind Starts Today At B. S. Johnson Law, we are committed to making your legal journey stress-free. We have removed the uncertainty of the "billable hour" for our estate planning services, offering the precision and transparency you deserve. For those seeking the highest level of protection, privacy, and control over their legacy, a Revocable Living Trust-Based Estate Plan is the definitive solution. It secures your assets, protects your privacy, shields your loved ones from the court system, and ensures your instructions are followed precisely—whether you are here or gone. Don't leave your family's future to the costly and public default of the probate court. Contact B. S. Johnson Law, PLLC today to schedule a consultation and begin the process of building your robust, custom-designed Revocable Living Trust plan.