Yorkville, IL estate planning lawyerAs parents, ensuring our young children’s well-being and financial security is a top priority. One effective tool for achieving this goal is a revocable trust. If you are a parent interested in learning more about estate planning and ways you can ensure your young children are protected financially, contact a lawyer in Illinois, as they will possess the legal knowledge to highlight how this estate planning tool can provide peace of mind and protect the interests of your children.

The Basics of Revocable Trusts

A revocable trust, also known as a living trust, is a legal arrangement that allows you to transfer ownership of your assets into a trust while retaining control over them during your lifetime. As the name suggests, this type of trust can be modified or revoked anytime, providing flexibility and adaptability as your circumstances change.