1.6.2 The Impact of the Marketing on Responsible Planning
“Revocable trusts present many issues and the debate over their appropriateness as an estate planning tool has been going on for years. Some of the participants in this debate have confused the matter by fostering … the poplar misconception that a fully funded revocable trust is an appropriate will substitute, carrying with it untold advantages in money, time and complications saved. As a result, practitioners may often find themselves reluctantly picking sides between two apparent camps: those that like and always use revocable trusts, and those that dislike and prefer never to use revocable trusts.” Jones, “Putting Revocable Trusts in Their Place,” 129 Trusts & Estates, 8 (September 1990).
The estate planner’s role is to neither blindly accept, nor blindly reject, the funded revocable trust as an estate planning tool.