If I establish a revocable living trust, will I lose control over my assets?

In most instances, the creation of a revocable living trust will not have any effect on your ability to control your property. While you are trustee of your trust, you can participate in any transaction that you could prior to the time at which you had a living trust.

Your income taxes will remain the same. If you filed a 1040 tax return prior to the time at which you had a trust, you can still file a 1040 upon establishing a trust. You can make changes to your revocable living trust at any time or you can revoke it in its entirety if you choose to do so.

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