Page 28 - Ultimate Guide to Estate Planning Third Edition_Neat

 How assets are currently titled from an
ownership perspective;

 If you want to provide asset protection to
your loved ones.

Some folks are committed to having a will-
based estate plan. In a will-based estate plan,
they're not solving as many problems as they
could solve using a revocable living trust. For
example, the will-based plan does not provide
protection during periods of incapacity for you
and/or your spouse.

A will-based plan is a little less expensive on
the front end than the revocable living trust.
However, a will is more expensive on the back
end, after you pass, because anything that goes
through a will has to go through probate court
and the costs incidental to probate i.e court
filing fees, attorney fees, expert witnesses and
delays.

Will vs. Revocable Living Trust.
If an attorney tells you to do a simple will and
that it is no big deal to do a revocable living
trust by comparison, you should run from that
lawyer. First, the statement is generally not
true. Second, the reason why so many lawyers

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