A common question asked when a person tackles estate planning is “Will having a Living Will help avoid probate?” The answer is yes, and no. Here’s why:
In the majority of states, the assets held in a Living Trust are not subject to probate proceedings in court. When done properly, a Living Trust can be insurance against probate.
The issue comes in the fact that people often forget that you have to transfer the title to all assets to the trust. When assets pass under the Will instead of the Living Trust, probate will typically be required.
There are some situations in which even a Living Trust will not protect you from probate proceedings. For example, if there is litigation needed sort out assets, or if an heir of the deceased wants to contest the validity or meaning of the trust.
If you are considering a Living Trust as part of your estate planning, and hope to avoid probate, you best bet is to have an experienced Cleveland elder law attorney prepare the Living Trust for you. With years of experience handling estate planning and probate proceedings, an attorney can help build the most solid Living Trust possibel
