Can a Revocable Living Trust Help Avoid Probate?

Are you wondering if a Trust could help your family avoid probate after your death? A Revocable Living Trust is a legal document that can be used to accommodate the control of your property and financial assets. As trustee, you manage your trust assets while you are alive and in good health. If you become disabled or deceased your trust will pass to your specified successor trustee. When used correctly, a Living Trust can help circumvent probate.

In order for a Trust to properly evade the headache of probate, the trust must be fully "funded". To do so, the trustor (creator of the trust - you), will title all property in the name of the trust and designate all accounts and life insurance policies with the trust as owner and, where appropriate, beneficiary.

Once a trust is fully funded, the trustor is trustee until he or she becomes disabled or passes away. At that time the Trust will pass to the successor trustee. This person will follow the instructions of the trust agreement while controlling all property and financial holdings. If the trustor has passed away, the successor trustee will see that all estate bills and expenses are paid from the estate. Then he or she will disperse property to the appropriate beneficiaries stated in the trust agreement.

Any property or beneficiary account that you do not fund into the name of your trust may be subject to probate. A qualified estate planning attorney can assure that your trust is properly drafted and help you completely fund your trust.

Your Trust may also face probate if you do not choose a reliable Successor Trustee. Pick your trustee based upon who can best handle your affairs. A trustee must be organized, fair, and loyal. If a successor trustee does not properly care for your estate, family members may object and your assets may need to be probated. A fully funded Revocable Living Trust with a competent Trustee at the helm will see that your family will circumvent the Probate process.

About this Author

AD&R, Ltd., is the Northern Nevada's premiere estate planning law firm. For more information on revocable living trust and other estate planning services, visit our website.

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