A revocable living trust serves a range of purposes in the estate planning process but, perhaps, most important among them is ensuring that your beneficiaries need not suffer a court-supervised probate process after your death. After all, losing a loved one is hard enough. There is no need to rub salt in the wound by adding a lengthy legal process to this already painful experience.
Beyond streamlining the process of passing on your assets, a trust also prevents your personal affairs from becoming the subject of public inquiry. This is because your last will becomes a matter of public record when it’s submitted for probate.
These protections only work if your trust contains the items for which it was designed. However obvious this may sound, it is all too easy to overlook essential inclusions as your assets grow.
Christopher W. Dumm
The Law Firm of Christopher W. Dumm