These and many other "URBAN MYTHS" are traded every day at church, the country club, the bingo hall and just among friends. Acting upon this type of advice can cause serious consequences upon how you wish to leave your assets to loved ones, charities and others upon your passing.
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If you needed heart surgery, would you go to your auto mechanic? |
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If you had problems with your sight would you consult your foot doctor? |
I know the last two questions sound ridiculous, but it is imperative that you receive the proper information to allow you to make important decisions.
Remember, what paralyzes people most often is the fear of the unknown. The fear of the unknown is largely due to a lack of information. Don't allow the fear of the unknown or a lack of information keep you from understanding the benefits and differences between…
A Will versus a Revocable Living Trust.
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A Will guarantees that your estate will go through Probate. |
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If the value of your Gross Assets exceeds your State’s Probate limit, and that is as low as $10,000 in some states, then it will be subject to Probate. |
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Your Will provides No protection from incapacity or incompetency. |
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A Will is usually only valid in the state where it was prepared and signed. |
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All documents in Probate proceedings are Public Records. |
I have yet to find anyone comfortable with the concept of their heirs having to go through months or even years of Probate. The "agony of probate" will waste valuable time. In addition, a sizeable amount of your assets could be lost to strangers, bureaucrats, and lawyers over months or even, in some cases, years of the probate process.
A will makes one's assets & estate public information the minute a Probate file is opened. A
Revocable Living Trust protects the value of your estate from public scrutiny as well as the identity of those who inherit it and in most cases can be completed in a matter of weeks or maybe a month or two.
