The Downtowner

Question: What is the difference between a Will and a revocable trust? If you have a revocable trust, do you still need a Will?
Answer: A revocable trust is a way of transferring your assets to an artificial legal entity before your death, while still having the use and control of the property during your lifetime. A Will is a legal document that transfers any remaining assets and property at your death.
A revocable trust serves several purposes. First, if you should become incapacitated, the revocable trust provides for continued management of your assets without the necessity of intervention from the court system in the form of a conservatorship or guardianship. Second, a revocable trust allows your estate to avoid the probate process because the assets owned by a revocable trust (rather than you) are not required to be probated. Using a revocable trust also provides privacy. At your death, your Will becomes a public document and anyone can look at your probate file at anytime. A revocable trust is a private document and does not appear as part of any public record.
In order to be fully effective, the revocable trust should be funded before your death. This will involve transferring your assets by deed, assignment or other conveyance to the trustee of the trust (which may be you).
Sometimes, however, people forget to transfer newly acquired property into their revocable trust. Therefore, it is recommended to have a "pour over" Will to catch any property which had been either intentionally or inadvertently left out of the trust. An estate planning attorney can help you decide if a revocable trust is right for you.
- Stacy E. Costello, a partner with Robins, Kaplan, Miller & Ciresi L.L.P., concentrates her practice in the area of Estate Planning. Contact the author at secostello@rkmc.com. The foregoing article is for informational purposes only and is not intended to constitute, nor does it constitute, legal advice.

Biz Buzz

Think Parisian cachet set against the lively backdrop of South Beach. Think refined linens splashed with exuberant colors. Think of world-class French cuisine accented with the exotic flavors of India. Think style. Think IndeBleu.
Opening Dec. 20, IndeBleu will offer its guests a multi-tiered experience—whether it’s a cocktail at the dramatic bar, a relaxing evening in the vibrantly chic lounge, or a world-class meal in the refinement of the main dining room, IndeBleu has an evening for everyone. Located in downtown DC’s bustling Penn Quarter (707 G Street, NW, Washington, DC 2001; 202-333-2538; www.bleu.com), Indebleu will rival the world’s top destinations.
The locally based architectural team of Adamstein & Demetriou, known for exuberant, cutting-edge designs, transformed four adjoining historic townhouses into a fantasy of exotic modernity called IndeBleu. The architects morphed the 10,000-square-foot space, with its 23-foot-high ceilings and views of 7th Street and the National Portrait Gallery, into a vibrant, bold, and energized interior bathed in warm colors and swaddled in rich fabrics. The lushly appointed IndeBleu features playful and decadent ingredients, including a double-height entryway, a miniature suspension bridge, an ornamental staircase, and a Parisian-style lounge whose curved mattresses arch into the ceiling.
Statement from Mayor Anthony A. Williams on Washington Convention Center Authority Board Vote on Convention Center Hotel
"This is great day for economic development in the District. Today's vote - to build a world-class interconnected convention center facility adjacent to the Washington Convention Center - is a victory for the tourism industry, for the city's economy and for my vision of a new neighborhood on the former convention center site. I thank the members of the Convention Center Board for their leadership on this issue.
"The 9th Street, NW site - adjacent to the Washington Convention Center -- is the right place for our headquarters hotel:
* It creates a convention center district, where convention-goers have meeting space, ballrooms, the convention center and the hotel all in one place.
* It's adjacent to the convention center, making our convention center more user-friendly for conventioneers and meeting planners.
* It allows the full realization of our vision for the former convention center site, offering a dynamic new neighborhood for residents and visitors alike."
"We're looking forward to working with the Washington Convention Center Authority to move quickly and make the 9th Street site for the new hotel happen.
The former convention center site is one of the most exciting and valuable pieces of land in the country. Now, it can become a location for housing, learning, reading, shopping, eating and entertainment-a place for all Washingtonians."
Once again, Poste Modern Brasserie is holding their Gingerbread House-Making Contest! Contestants should drop off your Gingerbread House at Poste Friday, Dec. 10 – Tuesday, Dec. 14 from 8 to 10 am or 4 to 6 pm only. Gingerbread Houses may be no larger than 16 inches by 16 inches. Participants must provide a title for their Gingerbread House, the name and age of the creator and a telephone number. The Gingerbread Houses will be on display in the lobby of Hotel Monaco from Dec. 14 – 26 for the public to vote their favorite Poste and Hotel Monaco will award prizes to three with the most votes. Winners will be announced Dec. 27. On Christmas day, the Gingerbread Houses will be donated to Miracle on Seventh Street hosted by the District ChopHouse. Poste Modern Brasserie, 555 8th Street, NW. 202-783-6060.

Georgetown Boutiques for the Holidays

The fast growing trend in Georgetown is toward young families with small children and babies on the way. As testament, a number of wonderful new childrens boutiques have arrived just in time for the holidays - Kbaby, Piccolo Piggies, Yiro, to name a few. Chalk full of wonderful holiday treats, you’ll certainly find something exciting for your favorite tots: nieces, nephews, godchildren and even your own. Here are a few ideas!

Welcome Kbaby . With a wide array of childrens products and a wonderful website with many useful links, however, you’ll want to see this shop in person. Featuring comfy layette, unique clothing, nursery accessories, soothing skincare and essentials for the new mommy are some of the items offered.

PICCOLO PIGGIES, located at 1533 Wisconsin Ave., NW; 202-333-0123). Everything for the stylish infant, toddler, and child, from whimsical lamps to clothes, shoes, and accessories.

Margot Wells Backas writes to tell us of a wonderful new shop for children on P Street. It’s called Yiro, and offers organic clothing and accessories for newborn to 6 year old children. Organic means that their fabrics – including wool, cotton, linen and silk – are produced and dyed without pesticides or other harmful chemicals. Therefore their products contain no chemical residues. They also look and feel so good. It’s a delightful shop, and the owner, Grace Marupa, is a lovely young woman, charming and helpful. Visit them at 3236 P. Street, NW, Georgetown, Washington, D.C., or call 202-338-9476.

ShopTalk

-Perhaps you noticed the carolers, hot chocolate and cookies throughout Georgetown last weekend. These wonderful treats will be present every weekend throughout the month of December. Free cookies and hot chocolate can be found at Cady’s Alley, Book Hill (1600’s of Wisconsin Avenue) and Furin’s (2805 M Street). Victorian carolers will be present strolling along Wisconsin Avenue and M Street with periodic stops along the way.

-Festival of Trees – The Children’s National Medical Center again partnered with the Four Seasons Hotel and the Georgetown Business Improvement District to raise funds for the Children’s Center for Cancer and Blood Disorders. Fifteen trees decorated by our foremost designers including A Mano, Debra Gore Dean, Deb Johns, Melissa Overmyer and Mary Drysdale will be on display in the hotel lobby throughout the holiday season. JDS Designs dedicated their "Santa Claus" tree to young Cinzia Bruno, recently diagnosed with leukemia. In addition, more than 50 Georgetown merchants will feature their own Christmas trees to benefit Children’s Hospital. The effort was hailed by one speaker as "a community of caring."
Self-guided walking tour maps are available at Four Seasons Hotel, the Georgetown Visitor’s Center and the Georgetown Business Improvement District for a stroll through Georgetown to view all the spectacular trees on display throughout the community.