3 Reasons to Choose a Trust Rather Than a Will
Reason #1: A Trust Avoids Probate
A will goes through the probate court process. During probate, a stranger, a judge, makes the decisions. The probate process takes between nine months and two years and costs an average of 5-9% of the value of your estate. So, with a will, assets are not readily available to your loved ones, the government gets involved, and your loved ones lose time and money. With a good trust plan, you will not have probate. You will save time, money, and your personal information will remain private.
Why Avoid Probate:
When you pass away, your loved ones will be grieving. It’s already a challenging time. They’re dealing with your personal property, handling the funeral and burial arrangements, and grieving. Handling the legalities of an estate at the same time is overwhelming.
I’ve had many adult children share their stories about how diﬃcult and distressing it was to handle their parents’ probate during such a diﬃcult time. Having experienced this, they are determined not to subject their children to the probate process. So, they put together an estate plan with our oﬃce.
Not only is probate extra time and extra money, but it is also a hassle at an already diﬃcult time. You have worked hard to leave an incredible legacy for your loved ones. You want the end of the story to be as good as possible by smoothly t to your loved ones through a living trust and comprehensive estate plan.
Reason #2: Asset Protection for your Beneficiaries
A trust will protect the people who are inheriting the money. Some heirs are minors; some don’t handle money well. Some heirs are in a high-risk profession, and some are married to people you may not trust. Some heirs may have a chemical dependency problem; some heirs may have special needs and might be on a government program that your inheritance might jeopardize.
A trust provides the special protection your heirs need, and a trust ensures your money goes to the people you choose in a way that genuinely helps them.
Reason #3 Incapacity Protection
If you are severely injured or lose capacity before you die, a trust can be a blessing. Trusts are powerful and flexible; they give you options, ensure things go smoothly for your loved ones when you are incapacitated, and continue to help when you pass on.
At Law Mother, Estate Planning is our focus. If you’re interested in a confidential, complimentary 15 minute call session to answer more of your questions, please visit our website: www.LawMother.com/go. You can also watch our 30 minute informational webinar at www.Lawmother.com/Webinar