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5. Distribution during the grantor's lifetime. Living trusts can also distribute assets during the grantor's lifetime. In some cases, such as the Medicaid trust, that can be for the grantor's benefit.
Image source: Getty Images. Avoiding probate is a major benefit. Of particular note is the ability of a living trust to avoid probate, the legal procedure that takes place to transfer an ...
Image source: Getty Images. 1. You don't have to go through the probate process. When it's time for a will to be executed, it goes through a process called "probate." During probate, a court ...
Image source: Getty Images. 1. You can avoid going through probate. When you pass away with a will, it's subject to a court process called "probate."During probate, a court will verify that a will ...
Perhaps the biggest benefit of having a living trust is that it allows you to avoid the probate process. Probate is the legal process of proving that a will is legitimate.
A living trust is another tool that can be used to control how assets are distributed upon your death, while avoiding probate. They can be especially helpful if you have a larger estate or a ...
A living trust is a legal arrangement you can use to transfer assets to your loved ones. In that regard, it's similar to a will, only with one major difference.
Image source: Getty Images. 1. You have a number of beneficiaries. The nice thing about a living trust is that it allows you to maintain control over your assets as long as you're alive.
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