A Revocable Living Trust is an important estate planning tool that allows individuals to transfer assets into a trust during their lifetime. These assets are then transferred directly to beneficiaries without going through probate, the court supervised distribution of assets according to the terms of your Will.
Understandably, the Revocable Living Trust is an attractive option. Probate can take months, or longer, depending on the complexity of the estate. Even in the case of an uncontested Will, the court fees involved with the probate process can add up. The assets in a Living Trust, however, can be transferred immediately with little expense. Incorporating a Living Trust into your estate plan will save your beneficiaries time, money and the hassle of dealing with probate.