Living Trust FAQ
An introduction to living trusts -- a popular way to avoid probate.
What is a living trust?
Why should I make a living trust?
» How does a living trust avoid probate?
Is it expensive to create a living trust?
Is it a hassle to hold property in a living trust?
Is a living trust document ever made public, like a will?
Does a living trust protect property from creditors?
If I make a living trust, do I still need a will?
Can a living trust reduce estate taxes?
How does a living trust avoid probate?
Property you transfer into a living trust before your death doesn't 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, and there are no lawyer or court fees to pay. When all of the property has been transferred to the beneficiaries, the living trust ceases to exist.
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