Wills & Trusts
Protecting Your Estate
It is a common belief that when someone passes away that a will is all that is needed to transfer assets to the decedent's heirs and loved ones. Unfortunately, in most cases this does not happen, and the process of executing final wishes can be a daunting and complicated task. A will, upon the Testator's passing, becomes a public record, and anything left in that will MUST go through Probate. During the probate process, anyone can make a claim of entitlement to the proceeds of that will, and attempt to contest the will's validity. Probate is a complicated and very expensive process that can take months, or even years to resolve. And in too many instances, the attorney's fees and court costs can completely deplete the assets that were intended to be left to the heirs, and loved ones of the deceased.
Fortunately, there is a way that you can protect your estate and avoid probate, as well as the costs and chaos that comes with it. Creating a Living Revocable Trust. The LRT is one of the only documents that actually gives you an exemption from probate. A Living Revocable Trust is legally binding while you are alive, and carries over after you pass away. A Trust, unlike a will, cannot be challenged by the devisees, and also withstands challenges from outsiders. A Living Revocable Trust is the most assured way to protect the assets that you leave behind, so your wishes are executed the way that you intended.