Answer: When your assets are not in a living trust, they are distributed according to your will through the probate process. This process is usually time consuming, cumbersome, expensive and a matter of public record so anyone can know your affairs. As long as assets remain in probate, they continue to remain under court supervision. At your death a living trust enables your successor trustee to step in and have the power to immediately distribute the assets as set out in your living trust. The living trust also provides greater flexibility for assets to remain in the trust to be distributed later without court supervision, since the trust can “live on” as a private legal entity after a person’s death. If you desire a delayed distribution or special distribution arrangements, you must make these arrangements as a specific provision of your trust.
DISCLAIMER – Every case is different because every case is different. This blog does not give legal advice. This blog does not create an attorney client relationship. You are not permitted to rely on anything in this blog for any reason. This blog is an entirely personal endeavor. Every person’s situation is different and requires an attorney to review the situation personally with you.
No attorney-client relationship is created by this site.
The use of the Internet, this blog or email for communication with this firm or any individual member of this firm does not establish an attorney-client relationship. Before we represent any client, the client and the attorney will sign a written retainer agreement.
If you do not have a written, signed retainer agreement with us, we are not representing you and will not be taking any action on your behalf.