Avoiding Probate with a Trust—Privacy, Speed, and Cost Savings

One of the most compelling reasons to create a revocable trust is to avoid probate, the court-supervised process required to validate a will and administer an estate. While probate serves a legal purpose, it can also be burdensome, time-consuming, expensive, and entirely public; while a properly funded trust allows your loved ones to settle your affairs efficiently, privately, and without court intervention.

Frequently Asked Questions (FAQs)

Why is Probate even necessary?

Probate is necessary to allow your loved ones to get access to the assets that you left in your name alone, without any designated beneficiary. These assets are referred to as your probate assets, and comprise what is known as your probate estate.

Do I avoid Probate if all of my assets are held jointly?

While holding assets jointly, or as a joint owner with rights of survivorship (JTWROS), will avoid probate with respect to those specific assets or accounts, doing so could create a tax inefficient outcome for your surviving joint owner, and it would not be protected from potential creditors, pending lawsuits, or financial predators.

What is the best way to avoid Probate?

While each situation is different, generally the best way to avoid probate is by executing a revocable trust and transferring your assets into said trust or by making the trust a beneficiary or contingent beneficiary of all of your assets and accounts. So long as the trust is properly structured and funded, any assets transferred into the trust during the lifetime of the settlor (the person who made the trust) will avoid the probate process entirely and be administered pursuant to the terms of the trust.

Take the First Step Toward finding Peace of Mind

Avoiding probate starts with a plan. Schedule your free initial consultation today to find out how a revocable trust can protect your loved ones, preserve your privacy, facilitate your legacy, and simplify the future for your family.