Does a living trust avoid probate?

Question

I am considering a living trust mainly because I want my home and brokerage account to avoid probate. I understand that signing a trust document alone may not be enough and that the property may need to be retitled into the trust. If the trust is properly funded, does it normally keep those assets out of probate, and what kinds of assets still pass outside the trust through beneficiary designations instead?

Soradin · Accepted Answer

Assets properly titled in the trust can generally be administered without the usual probate transfer process. As part of the legal review, a revocable living trust can hold assets during life and direct how they are managed after incapacity or death. As part of the legal review, it only controls property that is transferred to the trust or made payable to it, and it does not automatically eliminate taxes or creditor claims. Keep accessible copies with your core financial and legal records, and tell the appropriate people where those records are kept.

Does a living trust avoid probate?

Soradin

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