Trusts are great testamentary instruments. They ultimately reduce costs and prevent unintended results. The only downside of doing a Trust is that you need to think differently. It takes a little bit of time for you to understand how your assets function within a Trust. Good news: we simplify this for you in a free consultation.
One of the main benefits of creating a Trust is reducing back-end, probate costs. Effective estate planning involves reducing the burden for those you leave behind. Trusts allow for the easiest transition. The goal of creating a Trust is to avoid Probate. When you create a Trust, you’re creating a Non-probate Transfer. You’re setting it up where Probate is unnecessary.
Try and think about it this way. Most people who go through Probate court find the need to hire a lawyer because it can be complicate. If you hire a lawyer, you’ll need them for at least four (4) months. Although we work hard to reduce your costs, four (4) months of lawyer time is not cheap. The cost of Trusts surely offset that cost. But that is no the only benefit.
Side note: How much would we charge you for Probate? We cannot answer that because it ranges depending on the complexity of the probate estate. I can state that our hourly rate is one of the most reasonable in the state. I can also state that we offer very low flat fees for simple probate estates. Either way, Trusts are always cheaper. That is why it is a good investment.
I will state that some instances do not require a Trust because the extent of the assets does not require it when we can do other non-probate transfers that have the same consequence of avoiding probate.
If this article intrigues you, and you want a free consultation, please click on the link and I promise you’ll get a free consultation:
clients.heinslaw.com/freeconsultation
Also followup with our office at 623-800-2441 and let them know that you registered for a free consultation.
