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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 ...
Living trusts are private, changeable, and efficient. Are they right for you?
The best course of action before opening a living trust for a specific purpose is to contact an experienced financial planner or estate planning attorney. 5. Distribution during the grantor's lifetime
Another neat thing about living trusts is that they aren't subject to probate the way wills are. So putting one in place could mean a quicker transfer of assets. 3.
Image source: Getty Images. 1. You can control your assets and change your mind as needed. A living trust is a legal arrangement that allows you to pass assets on to other people.
In South Africa, in addition to the traditional living trusts and will trusts there is a "bewind trust" (inherited from the Roman-Dutch bewind administered by a bewindhebber) [51] in which the beneficiaries own the trust assets while the trustee administers the trust, although this is regarded by modern Dutch law as not actually a trust. [52]
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