Frequently Asked Questions
- What is a revocable living trust?
- What is a trustee?
- What is a beneficiary?
- Why should I make a revocable living trust?
Did you know that the average probate process can drag on for months, and possibly even years, before the heirs receive anything?
- How does a revocable living trust avoid probate?
Property you transfer into a revocable living trust before your death doesn't generally go through probate. The successor trustee -- the person you appoint to handle the trust after your death -- simply transfers ownership to the beneficiaries you named in the trust. In many cases, the whole process takes only a few weeks, unlike a will, which could take several months or years. When all of the property has been transferred to the beneficiaries, the revocable living trust ceases to exist.
- Is a revocable living trust document ever made public, like a will?
No. A will becomes a matter of public record when it is submitted to a probate court, as do all the other documents associated with probate -- inventories of the deceased person's assets, holdings, and debts. The terms of a living trust, generally, need not be made public.
- What areas do you service?
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