A Revocable Living Trust is a legal tool that lets you decide what happens to your assets—like your home, bank accounts, or other property—both during your lifetime and after you pass away. Here’s why you may to consider having one.
- Avoiding Probate
Probate is the court process that happens after someone dies, where the court makes sure debts are paid and assets are distributed. Probate can be time-consuming, public, and costly. A trust allows your assets to pass directly to your loved ones without going through probate, which can save time, money, and stress. It also keeps your family out of probate court.
- Privacy
When a will goes through probate, it becomes part of the public record. That means anyone can see details about your estate. Someone can see what your estate included, how much you had in assets, debts, and how much your heirs received. If you want to keep this information private, you probably want a trust.
- Multi-State Property
If you own real estate in Washington State as well as another state (many of our clients have second homes in Arizona, Hawaii, etc), without a trust you could be looking at multiple probates; one for each state you own real estate in. Avoid multiple probates by creating a trust and putting your real estate into the trust.
At DAL Law Firm, we are here to answer your questions and help you with your estate plan. Our phone number is (206) 408-8158. You can also learn more about our services by visiting our YouTube channel https://www.youtube.com/@dallawfirm