ANSWERS: 1
  • <h4 class="dechead">On One Hand: Benefits of a Living Trust

    The primary advantage of a living trust over a will is that a will must go through probate court, which can often be time consuming and expensive. A living trust avoids this problem as the assets of the trust are dispersed to the beneficiaries by a trustee upon the death of the benefactor.

    On the Other: Wills Fine for Many

    Living trusts are typically the best choice for people with large estates. According to the State Bar of California, those who do not have a significant amount of assets probably will not benefit from a living trust. Another disadvantage of a living trust are the fees incurred when it is set up.

    Bottom Line

    The experts agree that living trusts work best for people leaving behind large amounts of assets who want to avoid probate. They also say that before setting up a living trust or a will you should consult your legal adviser.

    Source:

    State Bar of California: Living Trust

    Federal Trade Commision: Living Trust Offers

    Resource:

    ABANet.org: Living Trusts

Copyright 2023, Wired Ivy, LLC

Answerbag | Terms of Service | Privacy Policy