Revocable Living Trust Attorney in San Juan County, New Mexico
A revocable living trust is one of the most effective tools for passing your property to your loved ones without probate. Attorney Ryan Lane prepares revocable living trusts for individuals and married couples in Aztec, Farmington, Bloomfield, and throughout San Juan County, New Mexico, as well as Durango and Southwest Colorado (Ryan is licensed in both states), and helps make sure each trust is properly funded so it works when your family needs it.
What Is a Revocable Living Trust?
A revocable living trust is a legal arrangement you create during your lifetime. You transfer your property, such as your home, land, and accounts, into the trust. You usually serve as your own trustee, so you keep full control and can change or cancel the trust at any time. When you pass away or can no longer manage your affairs, a successor trustee you choose steps in and manages or distributes the property according to your instructions.
Benefits of a Living Trust
- Avoids probate. Property held in the trust can pass to your beneficiaries without a probate court proceeding.
- Privacy. Unlike a will admitted to probate, a trust generally stays out of the public court record.
- Planning for incapacity. Your successor trustee can manage trust property if you become unable to do so, without a court-appointed conservator.
- Property in more than one state. A trust can help avoid a separate probate in another state, such as Colorado, where you own real estate.
- Flexibility. You can provide for children or grandchildren over time, rather than all at once.
Funding Your Trust
A trust only controls the property that is actually transferred into it. We help you fund your trust by preparing deeds for your real estate and giving you clear instructions for retitling accounts and updating beneficiary designations. Every trust we prepare comes with a pour-over will as a backstop.
Living Trust FAQs
Will I lose control of my property?
No. While you are living and able, you are typically the trustee and you manage your property just as you do today.
Do married couples need one trust or two?
Many married couples use a single joint revocable trust, but separate trusts can make sense in some situations, such as blended families. We will discuss what fits your family.
Does a trust protect assets from creditors or nursing home costs?
A revocable trust generally does not protect assets from your own creditors or count toward Medicaid planning, because you keep control of the property. We can explain other options if those are your goals.
I already have a trust. Should it be reviewed?
Yes, especially if it was signed years ago, if your family or property has changed, or if your property was never transferred into the trust. We regularly review and update existing trusts.
Learn more about our full estate planning services.
I live in Colorado or own property in both states. Can a trust help?
Yes. Real estate generally goes through probate in the state where it is located, so owning property in both Colorado and New Mexico can mean two probate cases. Holding that property in a revocable living trust can avoid both. Because Ryan is licensed in Colorado and New Mexico, he can plan for property on both sides of the state line.
Schedule a Consultation
To talk with Ryan about a revocable living trust, call 505-333-4494, text us, or visit our Contact page. Our office is at 103 S. Main Ave., Aztec, NM 87410, and we serve clients in Aztec, Farmington, Bloomfield, Kirtland, Flora Vista, and throughout San Juan County and the Four Corners.
This page provides general information, not legal advice. Contacting us does not create an attorney-client relationship.