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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 ...
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.
Putting a living trust in place can be costlier and more time-consuming than a typical will. But there's a good reason to make that investment. When you get to avoid probate
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 ...
If a revocable living trust is used as a part of an estate plan, the key to probate avoidance is ensuring that the living trust is "funded" during the lifetime of the person establishing the trust. After executing a trust agreement, the settlor should ensure that all assets are properly re-registered in the name of the living trust.
Image source: Getty Images. 1. You can avoid the probate process that many people strongly dislike. A significant advantage of using a living trust is to avoid probate, a court process that ...
Image source: Getty Images. 1. You could avoid the probate process. Probate is a court process in which the court determines if a will is valid and then supervises the distribution of the assets ...
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