One of the most basic decisions to make when estate planning is whether you should create a Will or a Living Trust. This post gives 5 reasons why an individual would choose to create a Living Trust over a Will. The five reasons are:
1) A will leads you directly into the probate court. A Will must be filed with the probate court within 30 days of your death, and will direct the judge on how your estate is to be distributed. The court then must make sure debts are paid before your property is able to be distributed to your heirs. A living trust avoids probate.
2) Contested wills are (more…)