Wills & Trusts
The probate system is a long drawn out court process in which the provisions of your will are decided upon by the court.
England eliminated the Probate system in the 1920's deciding that is was not needed.
- If you die with a Will you will need an attorney to handle everything that will go through the Probate system. Their fee takes 5% - 7% of the estate or approximately $20,000 - $35,000 of a $500,000 estate.
- With a living trust, property is usually transferred to beneficiaries within a few days or weeks after its owners death. No court proceeding of any kind is required.
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