Comparing Costs Of Post-death Administration: Fully Funded Trust Versus Probate Estate

摘要

I periodically have clients come to me for estate planning services after they have attended a living trust seminar sponsored by a different lawyer or law firm. The attendees are often told by the seminar sponsor that probate is "very expensive," and the way to avoid all of the associated expenses is to set up a fully funded living trust. A fully funded living trust will achieve probate avoidance, but that does not mean that there are no tasks to be performed after the death of the trust-maker. These tasks must be performed by the post-death trustee, often with the assistance of a trust and estate attorney.