The most common reason for the average person to create a Trust is to avoid the Probate Court process. If someone passes with only a Will, then their assets and estate must be processed through the Probate Court. However, if a person incorporates a Revocable Trust into their estate plan, then they will have given themselves the ability to appoint their Successor Trustee to their Trust, which is very similar to appointing an Executor/Executrix of their Will, but unlike dying with only a Will, the Trustee is allowed to act immediately. This avoids the delay associated with waiting for the Court’s approval, which is the requirement when someone dies with only a Will.
- A Little Planning Can Help Avoid Trust Accounting Disputes - 02/28/2021
- What To Bring To Your Divorce or Parenting Consultation - 02/27/2021
- Tips For Setting Up Your Family Law Consultation - 02/27/2021