When someone dies, their bank accounts freeze until a probate judge approves an executor, a slow and public process. A revocable living trust lets assets transfer privately and quickly instead, skipping probate entirely.
Any bank account you have that is in your name alone will be frozen when you die. And that is what will happen if you die with a will or without a will. And those accounts will stay frozen until a probate judge orders that your representative can have access to them. Only the judge knows when that will be. You do not have to put your assets and your family at the mercy of a probate court. Create a revocable living trust and you can bypass all of that. With a revocable living trust, your assets will likely pass in private and quickly. Some states' laws differ on these kinds of trusts, but you should seriously consider a revocable living trust as a part of your overall estate planning package. So make it easy on your family at a time when they will need it.
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