What aspect of revocable trusts is NOT a benefit?

Revocable trusts offer several key benefits that make them popular estate planning tools, including the ability to provide privacy for the grantor’s estate, the avoidance of probate, and the fact that assets held within them do not generate tax savings. Among these, creating a joint tenancy is not a benefit associated with revocable trusts.

Joint tenancy is a form of ownership where two or more people hold equal shares in a property, and it comes with specific implications for transfer and inheritance, such as the right of survivorship. In contrast, a revocable trust functions independently of joint tenancy. The primary purpose of a revocable trust is to manage and distribute assets according to the wishes of the grantor, while still allowing for changes or revocation during their lifetime.

Therefore, saying that revocable trusts create a joint tenancy misrepresents their structure and purpose, making it clear that this is not a benefit of utilizing a revocable trust for estate planning.