Tag: living trust

Dying without a Will

Posted by Galeet Levy on

Many people have the impression that they can die without leaving a Will and their loved ones will be fine. Unfortunately, that’s just not true. A Will is a document that directs the distribution of your assets to the right people at the right time at the right tax rate. But it doesn’t always work out that way.

As we have said many times, a Will goes through the probate process. Which means it goes through court to prove it is real and get distributed. It is a public process, and here in California it can take years in court, and that can take a lot of money.

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What is the Difference between a Will, Living Will and a Living Trust?

Posted by Galeet Levy on with 0 Comment

A Will is a legal document that describes how your assets should be distributed in the event of death. The actual distribution, however, is controlled by a judge in a legal process called probate.

Upon your death, the Will becomes a public document available for inspection by all comers. Once your Will enters the probate process, it’s no longer controlled by your family, it is now controlled by the court and probate attorneys. Probate can be cumbersome, time-consuming, expensive, and emotionally traumatic during a family’s time of grief and vulnerability. Con artists and others with less-than-pure
financial motives have been known to use their knowledge about the contents of a Will to prey on survivors.

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