A Living Trust is less expensive than going through probate.
For example, if an estate has a market value of $750,000, the probate court can assess up to $36,000 in executor’s fees andattorney’s fees. What is more, that amount will be based on the market value – even if there is a large mortgage on the main asset (the home)!
Setting up a Living Trust is faster than going through probate.
Unlike a Living Trust (which can take effect immediately), it can take 9 to 15 months to go through the probate process in California.
A Living Trust will protect your family’s privacy.
Unlike a will (which must be filed in probate court), a Living Trust is a private document that is not filed in court – protecting your family’s privacy.
A Living Trust ensures that you – not a crowded court – will decide who will manage your affairs if you become incapacitated.
Unlike a will, it is easy to update a Living Trust.
3 Reasons Why Your Living Trust Needs an Experienced Attorney
Unlike an online “bot”, an attorney will not generate a “one size fits all” plan.
By asking the right questions, an experienced attorney can ensure that the Living Trust will work for you and your family.
If the Living Trust is not properly funded, your estate may wind up in the “worst of all worlds” – being stuck in probate with a “stale” trust.
You must “fund” a Living Trust by placing all eligible assets and property under the Living Trust. An experienced attorney will work with you to ensure all of your assets and property are included in the Living Trust.
If the Living Trust is not properly worded, your out-of-state property might wind up in probate court in 2 or more states.
An experienced attorney will work with you to make sure “no property is left behind.”