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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
A popular option is a living trust, which many people consider one of the better routes to take. A living trust is a legal setup that allows an individual or couple to specify how their assets ...
When you use a living trust, you can completely avoid the probate process because the assets are already in the trust, and managed and distributed according to the terms already set. 2. Living ...
Revocable living trusts were often touted and marketed as valuable solely because of their ability to "avoid probate" and the costs and complications that surrounded it. Although probate avoidance is certainly a consideration in the use of a "living trust", there are many other estate planning techniques which also "avoid" probate.
Issues to consider with a living trust If there's one drawback to putting a living trust in place, it's the cost. You should expect to spend more on a living trust than a standard will.
A testamentary trust provides a way for assets devolving to minor children to be protected until the children are capable of fending for themselves; [3] A testamentary trust has low upfront costs, usually only the cost of preparing the will in such a way as to address the trust, and the fees involved in dealing with the judicial system during probate.
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