Wills = Court

25 Jun 2023 · 1 min

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0:30

In this segment, the speaker asserts that in most states a will must be validated through probate court, debunking the misconception that a will can bypass this process. He highlights that probate can be expensive—citing an example where a $500,000 estate incurs roughly $25,000 in probate costs—and that the proceedings are public, exposing estate details to anyone. He then recommends using a revocable living trust as a strategy to avoid probate altogether, thereby saving money and preserving privacy.

If any of you think that your will is going to allow your family to avoid going through the hassle and the expense and the time-consuming process of probate court, I'm sorry to tell you, but you're wrong. To legally enforce a will, it must go through the probate court process in most states. If you have a $500,000 estate, you can count on the expense of probate costing ballpark around $25,000. And everything that happens in probate court is public. Anyone can find out about it. A revocable living trust avoids all of that.