An increasing number of people are using a revocable living trust instead of a will to transfer their assets to their heirs. The primary reasons are to avoid the expense and delay of probate, and to keep the contents of the estate from becoming public knowledge.
Many people mistakenly believe that if they have a will, they can avoid probate. This is not true as a will, to have any legal effect, must be probated. This adds time and cost to the settlement of the estate, and also exposes the contents of the estate through public records. Continue reading