As daunting of a subject as discussing your final wishes can be, it is extremely important if you want the ones you love most to be able to grieve in peace. With so many unique benefits of a living trust, many individuals are choosing to utilize living trusts over wills to settle their final affairs.
- If avoiding probate is a main concern for you, a living trust may be the best option for your final wishes. When you avoid the probate process, your heirs will receive their inheritance almost immediately as opposed to months and sometimes years for wills.
- While writing up your living trust will be a much more complex process than writing up a will, it will also provide you with a variety of benefits. Depending on your financial standing, you may end up saving money when choosing a living trust over a will. This is in part because you will not be required to pay probate fees or court costs. Yet, the process of writing up the living trust will be a little more expensive than a will.
- Your living trust will provide you with the luxury of privacy. When you go through probate, all documents become public record. However, the documents and transactions of a living trust remain private between involved parties.
- Living trusts also give you freedom to alter or terminate the legal agreement as long as you are mentally capable. This means that you can change your heirs if someone starts acting greedy for their inheritance.
Contact Gaudy Law in Upland for all of your California legal needs. Whether you are in need of assistance through the probate process, creating a will or trust, or going over estate planning, we will provide you with the representation you deserve with one of our experienced probate attorneys in Upland.