We have discussed some of the differences between wills and trusts on this blog and it is important for you to pinpoint the type of estate plan that will suit your needs most efficiently. Each type of estate plan offers a number of benefits for people in certain situations, whether they have a loved one with special needs or some other unique consideration. In this blog, we will take a closer look at living trusts and some of the advantages that come with avoiding the probate process.
When someone loses a loved one, they may feel flooded with negative emotions and uncertainty. To make things worse, the probate process can be especially taxing from an emotional and financial point of view and may also be very time-consuming and result in a bitter dispute. Some families have been able to minimize these negative aspects of an estate because their loved one set up a living trust which allowed their loved ones to avoid probate altogether. You should keep your loved ones in mind when you set up an estate plan and look for ways to make things easier for them in the future.
With this having been said, it is crucial to keep in mind that everyone’s estate is unique. For some people, avoiding probate by moving ahead with a living trust may not be the most practical way to go. If you are interested in reading about other topics related to probate and trusts, head to our wills and trusts page.