Month: November 2025

Protecting Legacy, Simplifying Transitions, and Strengthening the Hicks Family for Generations

As the Hicks Family continues to expand, excel, and build new chapters of legacy, the way we plan for our futures carries just as much importance as the ways we celebrate our past. One of the most impactful steps any household can take—regardless of age, income, or family size—is establishing a family trust. While the term may sound like something only the wealthy need, trusts are extremely practical tools for everyday families who want to protect their assets, reduce stress for loved ones, and ensure that their wishes are honored without unnecessary delays or legal challenges.

Keep reading to learn a little about the concept of trusts, why a revocable living trust is often the best starting point, and how to begin the process.

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Understanding the Types of Trusts

While there are several types of trusts, most households encounter the following:

Revocable Living Trust

A revocable living trust is a legal document that allows you to place your assets under the ownership of a trust while you are still alive—and, importantly, still maintain full control. You can add or remove assets, change beneficiaries, or dissolve the trust entirely at any time.

Irrevocable Trust

Once created and funded, an irrevocable trust cannot be changed without beneficiary consent. These trusts are often used for tax planning, protecting assets from creditors, or setting aside resources for long-term care.

Testamentary Trust

A testamentary trust is created after your death through instructions in your will. Unlike a revocable trust, a testamentary trust still requires probate.

While all of these serve different purposes, the revocable living trust is the most commonly used by families who want flexibility, clarity, and peace of mind.

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1. Avoiding Probate Court

Without a trust, your estate typically goes through probate, a court-supervised process that can take months—or even years—depending on complexity and state laws. Probate can freeze bank accounts, delay access to funds needed for everyday living, and expose personal financial information to the public record. Families often describe probate as emotionally draining and financially burdensome, especially during a time when they are already grieving.

A well-structured revocable trust allows assets to transfer smoothly and privately, sparing your loved ones from unnecessary legal complications.

2. Keeping Control

Because the trust is revocable, you maintain full decision-making authority during your lifetime. You can update your instructions as your family grows, your goals evolve, or your assets change.

3. Protecting Your Family From Conflict

Even strong families can experience tension when a loved one passes away without clear direction. A trust provides structure, clarity, and documented wishes that prevent misunderstandings, reduce conflict, and protect relationships.

4. Managing Assets if You Become Incapacitated

A revocable trust can also include plans for how your assets should be managed if you become ill or unable to make decisions. Instead of leaving family members guessing—or disputing—your wishes, the trust outlines exactly who will step in and how matters will be handled.

5. Covering a Wide Range of Assets

A family trust can include nearly anything of value, such as:

• Your home and other real estate
• Bank accounts and CDs
• Vehicles
• Family businesses or side-hustle revenue
• Retirement accounts (with proper beneficiary coordination)
• Life insurance policies
• Investment accounts
• Jewelry, heirlooms, and sentimental items
• Digital assets (domain names, online businesses, photos, social media instructions)

Every household is different, but most families discover they have far more to protect than they realized.

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What Happens If You Don’t Plan Ahead

Families that do not set up a trust often face:

• Lengthy probate delays (sometimes 6–18 months or longer)
• Costly legal fees that reduce the value of the estate
• Court involvement in distributing assets
• Frozen accounts and limited access to funds
• Family disputes over property, responsibility, or sentimental items
• State-determined outcomes, which may not align with your wishes

The good news is that all of this is preventable with proper preparation.

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Getting Started: First Steps to Setting Up a Trust

1. List your assets — big and small.
2. Decide who you want to receive what and under what conditions.
3. Choose a trustee who will manage your trust when you can’t.
4. Select backup trustees in case your first choice is unavailable.
5. Meet with an attorney or estate-planning professional to draft the trust documents.
6. Sign and notarize your trust once finalized.
7. Fund the trust by transferring titles, deeds, and accounts into its name.
8. Review your trust annually or when major life events occur.

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Protecting Our Legacy Together

Establishing a family trust is not just a financial decision—it’s an act of love and leadership. As a family rooted in resilience and forward thinking, the Hicks legacy is strengthened when each household takes steps to protect what they’ve built and prepare the next generation for success.

Every situation is unique, so before moving forward, it’s wise to consult with a qualified estate-planning attorney or a certified financial planner (CFP) who can guide you through the process and help craft the best plan for your household.

Let’s continue building a future that honors those who came before us and empowers those who will follow.