In this article, our Rockford elder law attorneys discuss how trusts are used in order to prevent probate proceedings.
Probate matters see the courts distributing assets of a deceased individuals' estate to heirs and creditors. Probate proceedings are a long and costly process and can be avoided by implementing a revocable living trust that transfers money and other estate assets to it during a lifetime. The revocable living trust is a legal entity that owns the assets and property during the creator's lifetime. That creator has control of it while they are alive and can stipulate what happens to those assets upon their death.
Read the full article by our Rockford elder law attorneys about what having a great estate plan can accomplish for you and your family.