A Trust or Living Trust, occasionally known as a Family Trust, may avoid Probate when you have your assets titled in the name of that Trust. If your assets are not titled into the name of your Trust, those assets do not avoid Probate. Further, you have wasted one of the main advantages of the Trust aka Living Trust.
If your assets are titled in the name of your Trust aka Living Trust you can avoid the publicity, expense and time delay of Probate Court. Assets in the Trust aka Living Trust can move privately through administration without having to go through the publicity of Probate Court. Further, it can move fast, depending upon the banks, financial institutions, family and attorney administering that Trust. The Probate Court is not in control of the movement, but the family can be.
As with the Will, you need to make sure that the right people are in control of your Trust, that it is a person or professional you have chosen, not another attorney who has named themselves to be in control of your Trust without you knowing it.
You will need to have your assets titled in the name of the Trust. You will want to have the right people in charge. You want to make sure that your Trust is current with the law.
At the Law Firm of Steven Andrew Jackson, Attorney and Counsellor at Law, we have helped hundreds of families protect themselves and their loved ones, avoid Estate Taxes and Probate Costs, and keep their Estate Plans current with the law through The Customized Protective Estate Planning Solution™.