While the benefits of a Revocable Living Trust-based planning vary from jurisdiction to jurisdiction, the commonly cited Revocable Living Trust benefit is avoiding the Probate Court. The three drawbacks to Probate Court are potential for unnecessary delays, costs and publicity. If given a choice, the majority of people would rather avoid any court process that could tie up their assets, reduce the amount of assets through court costs and legal fees, and expose personal and financial matters into the public record.

If you would like more information regarding asset protection, trusts, family limited partnerships or the subject of this article please call or email our office.