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A Living Trust May Benefit Any Size Estate

Posted by Nina Whitehurst | Jan 31, 2018 | 0 Comments

Trust definition

Even if your estate is small, you should consider a living trust.

The probate process is very different, depending on your state of residency. That should be considered when creating an estate plan, according to the Los Angeles Times in "Why setting up a living trust may be wise, especially in California."

In some states, probate is very expensive and time-consuming. In other states, probate is generally inexpensive and painless for estates under a certain size.  However, that particular size varies between states.

Advice about whether you should get a living trust to avoid probate may be good advice in California but less so in Michigan.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and takes the laws of your state of residency into consideration, as well as the size of your estate.

Reference: Los Angeles Times (Jan. 7, 2018) "Why setting up a living trust may be wise, especially in California."

About the Author

Nina Whitehurst

Attorney at Law Nina has been practicing law for over 30 years in the areas of estate planning, real estate and business law She is currently licensed in Alaska, Arizona, California, Colorado, Oregon and Tennessee. Her Martindale-Hubbell attorney rating is the highest achievable: 5 stars in peer...

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