Setting up a Revocable Living Trust is a good first step to avoiding probate, but it is only a first step.
You still must transfer the title of your assets to the trustee of your Revocable Living Trust.
Even if you’ve already transferred title to some of your assets, the key is whether you’ve properly done so with enough of your assets. » Read more..
What are some key pros and cons that Minnesotans use to determine whether a Revocable Living Trust should be part of their estate plan?
Pro — Avoid Probate: All assets held in a Revocable Living Trust avoid probate. Probate avoidance is especially helpful when you own real estate in more than one state. If real estate is owned in your name alone, it may trigger a probate action in each state where the real estate is located. » Read more..
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