An estate-planning lawyer explains how converting a will to a trust saves tens of thousands in probate fees and years of court delays. The process: tear up the old will, create a pour-over will for missed assets, establish a revocable living trust, and transfer everything into it. Once funded, your family skips probate entirely.
So you probably know by now that a will could cost your family tens of thousands of dollars in assets and years in probate. So if you're looking to switch over to a trust, you're making the right decision. And I'm asked all the time, how do I switch my will over to a trust? To do that, you're going to need to do the following steps. Step 1, tear up your old will. Even if you have a trust, you do still need a will, but it's a different type of will. It's called a pour-over will. But the only time you'll need it is if you leave assets out of your trust that need to be in your trust. Otherwise, find a lawyer like me, an estate planning lawyer, create a trust for yourself or for you and your partner, then put all your assets into that trust. And whoever you're working with will be able to tell you how to do that. Once that is done, when you're gone, your family can avoid probate, avoid paying all the probate attorney fees and court fees and appraisal fees. And they can avoid all that time in probate court. Now head on over to my link and sign up.
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