Simple Will Versus Living Trust

Oftentimes clients discover that they would prefer to plan their estate using a living trust rather than a simple will. 

Although a living trust usually costs more to create than a will, one of the greatest benefits of a living trust is the ability to avoid probate.  Probate can be timely, costly and easily contested.  If a trust is properly funded, the court system can be completely avoided at the death of the trustmaker.  Moreover, a living trust can be established to provide asset protection for your beneficiaries.  This means that their inheritance would be protected for them from things such as a divorce, creditors, bankruptcy, lawsuits, long-term care costs, etc. 

After discovering all the benefits that can be drafted into a living trust, many choose to pay a little more now during life to get all the benefits of a living trust, and then also save more after death for their beneficiaries. 

See Carissa Giebel, Why Pay More for a Living Trust? Green Bay Press Gazette, Feb. 23, 2015.