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Frequently Asked Questions
A last will is quicker and easier to set up, but it needs to go through the court probate process after your death. Probate court can be time consuming and expensive, depending on your state.
A living trust allows your loved ones to avoid the potential hassle of probate court. But trusts require you to change the title to most of your assets, which means more paperwork and ongoing maintenance.
Probate is the legal process through which the court oversees how an estate and assets will be distributed. While there are many benefits to having oversight of the process by the probate court, it can be time consuming and expensive depending on your state.
If you create a last will, your assets will be distributed to your named beneficiaries as part of the probate process. If you create a trust, your assets will be distributed to your beneficiaries without going through the probate process.
In many states, probate may not be required if the estate is of minimal value.
Yes. If you have an individual living trust, you can transfer assets and property, including real estate, whenever you like. Likely, you’ll be your own trustee while you’re still alive. After your death, it will transfer to your successor trustee, appointed by you. Joint trusts require your co-trustor's consent for co-owned property.
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