This is true- provided if the living trust is properly funded. If it is correctly drafted and funded, a living trust allows assets to pass directly to beneficiaries without court involvement, saving time and money.
Unlike a will, which must go through probate, a living trust ensures a smooth transfer of assets upon death.
The ‘grantor’ can place their assets in the trust and names a successor trustee to manage them after passing. Since the trust legally owns the assets, they are not subject to probate.
Living trust also provides privacy, but probate records are public.
Without a doubt, estate planning attorneys can help set up and fund a living trust correctly.
Disclaimer Note: This post should not be considered as legal advice. The author is not an attorney, hense won't provide legal advice or draft documents for others.
About the Author: He is a Certified Mobile Notary commissioned in Delaware who is specializing in Trust Delivery & Notarization.
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