One of the more important things you will do in life is try to provide an inheritance for your loved ones. Depending on where you live, getting a will through the probate process can be expensive and time-consuming. Probate is how a court decides if a will is valid and then how it oversees the proper distribution of assets to heirs. The Motley Fool advises people to consider the benefits of a living trust instead of a will.
A living trust provides three critical benefits for handling the disposition of an estate:
- It avoids the probate process.
- It provides more privacy than a will.
- It offers flexibility to adapt or revoke the trust if life circumstances change.
With a living trust, you can avoid probate, maintain privacy over the distribution of assets, and protect your heirs from financial predators. Living trusts are sometimes known as revocable trusts because you can change or revoke them to adapt to any shifts in your life circumstances. An estate planning attorney can advise you about trusts and guide you through the process of creating one.
Council of Seniors Wants Life to Be Worry-Free
Additional retirement income can provide more peace of mind. That’s why Council of Seniors is working diligently to get Congress to pass The SAVE Benefits Act. This legislation is critical because the annual Social Security cost-of-living adjustment (COLA) has proved insufficient in recent years. If we succeed, seniors will recover the $581 that was withheld from their benefits.
Please sign our petition right away to start helping. We truly appreciate all the support you can provide.
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