Why Should I Have a Trust?

Most people who use Trusts for their estate plan do so primarily to avoid probate. For the assets or property that your Trust owns, the terms of the Trust control how and when they are distributed to your beneficiaries. For assets that pass through your probate estate, there are administrative steps that must be followed by your Executor before accessing the assets or distributing them. Your Executor is, to a degree, at the mercy of the Probate Court and your heirs for the timeline of the process. Stated simply, a Trust can make it quicker and easier for your family to access and distribute your estate after your death.

If you own real property in multiple states, you should consider a Trust. In that situation, a Trust can save your family the time and cost of multiple probates. If you are excluding or leaving a smaller amount than expected to a family member, you should consider a Trust. The Trust will make it more difficult for the slighted family member to challenge or contest your estate.