Wills & Living Trusts

If you don't have a Trust, the State has one for you and YOU ARE NOT GOING TO LIKE IT.

If you die without an Estate Plan, all your assets will be Probated even if you have a Will, a Will does not avoid Probate.

WHAT'S SO BAD ABOUT PROBATE? Probate is the legal process through which the court takes control of your assets and pays all of your debt which includes legal fees, executor fees, court costs and more as determined by the court, which is very expensive and reduces what is left for your family.

PROBATE TAKES TIME. Probate takes approximately 9 months to 2 years or more, during which your assets are frozen. If your family needs money to live on during the probate process, they must petition the court (another expense) and request a living allowance, which may be denied.

SHOULD I USE AN ON-LINE PROGRAM TO DRAFT MY ESTATE PLAN. Forbes called DIY estate planning "A Uniquely Bad Idea." Even after testing three estate planning products, Consumer Reports concluded that "All Were Inadequate." Using an on-line service for Estate Planning provides the consumer with nothing but a "One Size Fits All" template, providing no legal direction or advise as to what is needed to protect your specific family dynamics. There are so many things that can go wrong in doing your own estate plan which can be catastrophic.

Benefits of a Revocable Living Trust

• Avoids time and expense of probate when you die
• Avoids multiple probates if you own real estate in more than one state
• Provides easier, more efficient administration of your estate
• Prevents court control of assets at physical or mental incapacity
• Gives you maximum privacy
• Minimizes emotional stress on your family
• Often allows quicker distribution of assets to beneficiaries (especially with smaller estates)
• Lets you keep assets in trust until beneficiaries reach age(s) you want them to inherit
• Easier to provide equitable/fair distributions to beneficiaries
• Prevents court from controlling assets when minor children inherit
• Can protect dependents with special needs
• Prevents unintentional disinheriting
• More difficult than a will to contest
• Provides effective pre-nuptial protection
• Inexpensive, easy to set up and maintian
• Can be changed or cancelled at any time
• Professional asset management if you use a corporate trustee
• Can reduce or eliminate estate taxes
• Lets you keep maximum control while living - even if you become incapacitated - and after you die
• Peace of mind