Myths About Revocable Living Trusts
Let’s be real if leaving a will creates this much chaos then why do people continue to do it? Most people don’t know there’s a better way.
They’ve heard of wills. Maybe they’ve even Googled one. But Revocable Living Trusts? Sounds like something only billionaires, celebrities, or trust fund babies need.
So, they default to what they’ve seen in movies, or what their parents did…
It’s a lack of education — and a pile of persistent myths.
Let's bust a few of those myths right now...
3 Myths about Revocable Living Trusts
1
Estate Planning is Only for the Wealthy
“When I hit $5 million, then I’ll worry about it.” Cool. So... never?”
Estate planning isn’t about yachts and tax shelters. It’s about control, privacy, and keeping your family out of
legal quicksand.
If you own a house, have kids, or even just a bank account with more than $38 in it, you need a plan.
You don’t need to be a Rockefeller. You just need to be responsible.
2
Trusts are Too Expensive or Complicated
"If I do a trust, I pay for it.
If I just do a will, my kids pay for it."
It’s true that wills are cheaper up front, but they’re like a financial grenade you toss over your shoulder as you walk offscreen. Probate court eats up 5–10% of your estate, adds months or years of delay, and leaves your family paying lawyers, court fees, and possibly fighting each other while you... rest in peace.
So yeah, trusts cost a little more up front, but in the end, they cost a small fraction of the true cost of a will, they take only a couple of hours to set up, and avoid the complicated emotional wreckage.
3
If I Go Loopy, My Spouse Will Just Handle It... Nope.
“Spoiler: ‘I do’ doesn’t mean ‘I automatically get to make medical and financial decisions when you lose your marbles.’ Courts like paperwork, not vows.”
Most people assume their spouse can just step in and make financial and medical decisions if they get dementia, have a stroke, or end up mentally incapacitated.
But without a legal plan in place — no trust, no powers of attorney — your spouse is legally powerless.
They’ll be forced to go to court to request conservatorship, which can take weeks to months, cost up to $8,000 or more, and dump a ton of emotional strain on an already overwhelmed family…just to get permission from a judge to access your own accounts
This isn’t rare — it happens every single day to well-meaning spouses who just didn’t know any better. And all of that while they’re emotionally wrecked because, you know, you’re not exactly yourself anymore.