ORANGE COUNTY TRUSTS & ESTATE PLANNING
Revocable Living Trust
Special Needs Trusts
Wills & Power of Attorney
A LIVING TRUST AVOIDS PROBATE
One of the main benefits of a Living Trust is to avoid probate. Probate is the court process in which your assets are distributed upon your passing. Whether you have a Will or no Will, your estate can be subject to probate. The probate process is costly and can take months or years before your assets are fully distributed. A Living Trust avoids probate, which often means a faster distribution of assets to your beneficiaries.
A LIVING TRUST MAY SAVE YOU MONEY
While a Will costs less to create, a Living Trust can save your estate money in the long run. Probate fees are costly and usually amount to 3-5% of your estate. In addition, there are other costs involved such as court filing fees, publication fees and probate referee fees, all of which are paid by your estate.
A LIVING TRUST PROVIDES PRIVACY
Another difference between the two legal documents is the level of privacy offered with a Living Trust. Upon your death, a Living Trust is not made public, and the distribution of your estate will be a private matter. A Will, on the other hand, needs to be filed with the court and the probate process is a matter of public record.
Indu Srivastav
Jeffrey D. Kent
Steven K. Bloom
Teresa Shortridge
