Does a grantor trust avoid probate?
A grantor trust rarely avoids probate. Probate is only avoided if every single asset owned by the grantor, without exception, is transferred to the trust when it is created. In any event, probate is not the nightmare it is painted. Particularly in New Jersey, probate is a relatively simple process. Besides, avoiding probate does not avoid most of the administrative and legal work that occurs at death. In most cases, property transfers and estate tax returns are required despite the existence of a grantor trust.
