Page 30 - Ultimate Guide to Estate Planning Third Edition_Neat

Revocable Living Trust.
A revocable living trust is slightly more
expensive, on the front end, to create than a
will. However, the benefits are significant:

 It bypasses probate (provided you have
funded the trust by retitling the assets);

 It is a private proceeding where courts are
ordinarily not involved;

 You appoint who is administering the
rules that you’ve created without judicial
interference;

 The costs are normally less than those of
a probating the will;

 You can provide guidance for your
lifetime periods of incapacity rather than
having that determined by a
guardianship or conservatorship
proceeding;

 You avoid the inherent delay associated
with any judicial proceeding.

Why is there a delay with a will? Because
judges generally want to make sure that they're
doing a good job and doing the right thing. They
want to accurately verify values of the property

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