Will or Trust…The (Past) Million Dollar Question

Several decades ago only the rich and powerful used trusts to help with tax liability.  While this is still done today, trusts are a great tool for everyone not matter how large or small their estate.  A Last Will and Testament does not directly allow for the passing of items such as retirement accounts (IRA, 401K, etc.) and life insurance policies; those items pass outside of probate.  However, with a Revocable Living Trust you can direct that your retirement accounts, life insurance policies, and any other item you legally own pass into your trust.  Other advantages include but are not limited to: privacy of your estate, cost efficiency for your family, and the likely avoidance of probate court.  A trust document does not become public record upon your death, but a Last Will and Testament does once it is filed with the Clerk and Master.  Don’t leave your family wasting time and money in Probate Court.  Trust us today.  This is not intended to be legal advice and does not form an attorney-client relationship with any reader.