Attorney’s love Wills! They are happy to set you up with a cheap Will. They know your loved ones will be calling once they need an attorney to get through Probate Court. That’s when they cash in. Without a Trust, the attorney indirectly becomes a beneficiary of your estate often costing $10,000 to $20,000+.

Shortcomings of Wills

1. Probate Process: Wills must go through probate, a court-supervised process that can be time-consuming (months to years) and costly (attorney fees, court costs).

2. Public Record: Wills become public during probate, exposing your assets and beneficiaries to scrutiny.

3. No Incapacity Planning: Wills don’t address asset management if you become incapacitated, requiring separate legal documents like a power of attorney.

4. Challenges and Disputes: Wills are more susceptible to legal challenges (e.g., claims of undue influence), potentially delaying or altering your wishes.

5. State-Specific Rules: Wills must comply with state laws. Assets must be probated in the state they reside causing probate in multiple states.

Benefits of a Trust

1. Avoids Probate: Trusts bypass probate, allowing faster, private asset distribution to beneficiaries without court involvement.

2. Privacy: Trusts remain confidential, keeping your estate details and beneficiary information out of public records.

3. Control and Flexibility: Trusts allow detailed instructions for asset management and distribution, including during incapacity or over time (e.g., staggered payouts to heirs).

4. Incapacity Protection: A trust can manage assets if you’re incapacitated, ensuring seamless financial oversight without court-appointed guardianship.

5. Reduced Disputes: Trusts are harder to contest than wills, minimizing legal challenges and ensuring your wishes are followed.

6. Asset Protection: Trusts can shield assets from creditors, lawsuits, or irresponsible beneficiaries, unlike wills.

7. Multi-State Property: Trusts simplify managing properties across states, avoiding multiple probate processes.