Creating a trust can help avoid the requirement of going through the Court to distribute someone’s property and money to their heirs. The most common way this is accomplished is by using a Revocable Living Trust (RLT) to “own” your property. Then, the terms of the Trust control how the assets owned by it are distributed to your beneficiaries. Those terms can dictate that the property is to remain “in trust” for the benefit of your beneficiary, be distributed outright to them as soon as possible, or another form of distribution that we design. (See below to learn more about the Probate Process)
Probate is the court-monitored process of transferring property from a person that has died to their heirs. The process typically requires a minimum of six months to complete. After their death, a person’s Estate Property is transferred according to a Valid Will if they have one, or according to the law for Intestate Succession. Click here for more information on Probate and the strategies we can use to avoid it.
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