
Living Trusts
Establishing and funding a Revocable Living Trust is one common way of avoiding the impact of probate at death. Benefits to establishing a Living Trust include reduction or elimination of probate fees and related expenses, in addition to preservation of privacy. Another significant advantage is the simplification of probate estate administration because the administration of your Living Trust, unlike probate, takes place free of court supervision. A Living Trust can also be prepared to reduce the burden of estate taxes or to place restrictions upon the distribution of assets to beneficiaries who might be underage, or otherwise lack the maturity or financial responsibility to receive their entire inheritance outright, or even to protect an inheritance from creditors or from a failed marriage.