Most people are not well prepared for their future. That is a mistake. If you don’t have a will or a living trust, someone else will be in charge of dividing up your assets, no matter what you wanted to do with them. Because of this, most people know that they need a will. However, you do have another choice. You may want to look into a living trust. Here are some reasons to choose a living trust over a will.
You won’t have to worry about probate. Once you are gone, your estate goes through a probate. This simply means that the executor of your will has to go to court to divide up your assets the way that you wanted.
However, with a living trust, you don’t have to worry about that step. This allows your assets to be divided quicker. It can take a few weeks instead of months or even years to divide up your assets.
A living trust is considered private. Unlike a will, which becomes a part of public records, a living trust is more private. Even after you are gone, it stays private. Even the division of assets is kept quiet when you use a living trust instead of a will.
A living trust saves you and your family money. Though it may cost more to design a living trust than a will, it will save money in the future. Because your assets won’t have to go through the court system, your family will save money there.
Living trusts are more likely to hold up better if someone contests the distribution of your assets. You can’t please everyone so your will or living trust may be contested. However, if you want things done your way, your best bet is to use a living trust.
Because there is so much riding on your future, you should talk to a professional to ensure that your assets get divided the way that you want them to be. Don’t hesitate to contact us to help you get your affairs in order.