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The Difference Between Trusts & Wills
If the Estate’s Assets are more than $184,500 (California), $100,000 (Nevada and Arizona) $75,000 (Texas), a Will Must Go Thru Probate Court and Be Approved By a Judge
A Trust is a Contract and Goes Into Effect the day it is Signed and Avoids Probate Court.
A Will Outlines Special Wishes and goes into Effect the Day You Die.
A Trust Offers Greater Control Over When and How Assets are Distributed
A Trust Provides Asset Protection from Lawsuits and Creditors
Keep in Mind That After a Trust is Created, It needs to be Funded by Re-Titling Assets to the Name of the Trust. Trusts Have One Major Benefit Over Wills… They’re Often Used to Avoid Probate Court Process Along with Costly Attorney Fees and Court Costs Entirely, Which is a Huge Plus for Most People. This Alone Should Justify the Additional Costs to Establish a Trust vs. Will.
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