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Avoid probate court with a proper living trust

Most Kent residents would not want their financial information made public, nor would they want their property and assets divided by the state. What is known as probate court can often lead to one or both of these situations. Without a proper living trust or will, loved ones left behind may suffer more than they have to. Luckily this can be avoided entirely with a proper estate plan.

What a majority of Americans lack is a living trust or will. Without any form of a trust or will, a person's estate ends up going through probate court. Between court fees, legal disputes and assets being handed over to the wrong hands, probate court often goes against the end-of-life wishes of many people. Probate court can be prevented with a living trust, which is not just for the wealthy.

A living trust is designed to assign a loved one certain assets upon death. Anything from cars and vacation homes to personal possessions may be passed down to a designated loved one with a living trust. It works by naming a trustee, often an attorney or faithful friend, who is in charge of disbursing one's assets to beneficiaries upon death.

Another advantage is that a living trust can be updated any time during the owner's life. For instance, say that an individual has a falling out with someone who they have named in their trust; the individual could transfer ownership of their property to another loved one.

Very few Kent residents know when their time has come. While death is inevitable, planning for it by creating a living trust is not. Many Americans put off an estate plan until it's too late. The best way to avoid probate court in the future is to create a simple and basic estate plan.

Source: Market Watch, "Estate planning for the rest of us," Bill Bischoff, May 21, 2013

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To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

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