People looking to avoid probate are often advised to create living trusts. The trusts can be excellent instruments and it is important to know what assets to put into them and what assets to leave out.
Probate avoidance is an important goal in many estate plans. While there are many techniques and legal instruments that can be used for the purpose, living trusts are the most popular instrument to avoid probate because of their flexibility and ease of use.
Despite that ease of use, people often get tripped up. They are totally unaware of what must be done so the trust works as intended.
The Wills, Trusts & Estates Prof Blog recently offered some advice about this important step in “Tips To Estate Planners To Avoid Probate With Living Trusts.”
The tips include:
Reference: Wills, Trusts & Estates Prof Blog (Jan. 9, 2016) “Tips To Estate Planners To Avoid Probate With Living Trusts.”
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