How do Wills and Trusts differ regarding probate?
A Living Trust can help you avoid probate, but sometimes probate provides protection. At your death, the terms of your Will are administered by your state’s court system–a process known as probate. The court provides some oversight to the activities of your executor. At your death, your Living Trust is not subject to “probate.” In some cases, avoiding probate speeds up the process of distributing your assets. In many cases, there is no difference. On the other hand, the probate process provides rules and procedures for handling disputes over the Will and disputes among your creditors. This advantage is not available to the same degree if a Living Trust is used. However, most people who use Living Trusts do not view this as a significant disadvantage because they do not expect challenges to their Living Trusts and they do not anticipate any disputed claims with creditors.
