Whether you’ve experienced a marriage, divorce, the birth of a child, or the loss of a loved one, it’s crucial to ensure that your plan aligns with your current circumstances.
One of the major benefits of a living trust is that the trust assets bypass the probate process. In most states, this may mean savings in probate costs up to many thousands of dollars.
If you find yourself in the lucky position of either passing along your wealth to your heirs or receiving a wealth transfer from a relative, this is an exciting thing. However, it does come with some legal and financial concerns if not done well.
Managing out-of-state property in probate often requires ancillary probate, which can add complexity and cost. However, using the right strategies to avoid ancillary probate can prevent these issues.
