How Are Trusts More Versatile Than Wills?
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How are trusts more versatile than wills? Trusts provide a seamless transition for management of your finances if you are incapacitated during your lifetime. Trusts are also private. At your passing, the successor trustee doesn’t have to file anything with the court and as a result, the administration process is more efficient than probate.
How do you avoid probate and court administration?
It’s very simple, set up a trust. A trust is a way to put your assets in one place during your lifetime, manage them during your lifetime, and handle distribution at your death. In this way, the court has no involvement in the process.
It takes a little more time, a little more expense, but your family will be the better for it. If you want a simple and easy process, a trust is the way to go.