If you do not have a trust there will undoubtedly be a probate proceeding upon your death. Probate is a court supervised proceeding necessary to transfer your assets to your heirs. The probate proceeding is costly in terms of both time and money. Furthermore, all probate proceedings are public record.
Having a trust in place insures a less costly and smoother transition of assets to their designated heirs.
For more information about setting up a trust, please contact our trust attorney in Woodland Hills.
While probate is a public proceeding, in Virginia it is often NOT very expensive or time consuming. Estate planners should not always “default” for trusts.
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