Why You Should Consider Putting Your Property in a Trust

Deciding how to handle your assets in preparation for the future can seem intimidating, and you might be wondering what your options are. While you might initially consider a will, there are some benefits for property trusts in West Palm Beach.

No Probate Process

You may think that the will you have is enough and that you won’t need a trust, but that’s often not true. On a surface level, these two documents might seem very similar. Both are legal documents used to distribute your assets after you pass away, but a significant difference between the two is the avoidance of the probate process with a trust.

Probate is often a lengthy process supervised by the court that compiles assets and distributes them after paying off outstanding bills and taxes. When using a trust, your loved ones can skip that step entirely, possibly saving them months – or even years. Money won’t become an issue either. Using a trust bypasses the need for probate costs and travel expenses.

Trusts are Private

We all like our privacy, and it becomes especially necessary after a loved one passes away. If you put your property in a trust, all of the information will be completely private. If you simply use a will, your loved ones will have to go through the probate process, and since this process happens in court, it will all become public record for everyone to see.

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Need Help with Property Trusts in West Palm Beach?

We at Legacy Financial Partners know that dealing with trusts and wills can be a stressful time. At our financial services firm, we will help you every step of the way and are ready to answer any questions you have. Contact us today to schedule a meeting.

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