In this article, our Wheaton trust attorneys explain how revocable living trusts allow you to avoid a costly and stressful probate case.
In the state of Illinois, if you own $100,000 of non-real estate assets and real estate outside of a trust, probate is mandatory. Probate court can end up costing you 5% to 10% of the estate in attorneys fees and court costs.
Not only is it costly, but it is time-consuming. Probate cases take up to a year or more to complete before distributing your inheritance.
Using a revocable living trust will allow easy passage of assets to your loved ones when you pass. This article will aid you in avoiding the stressful, lengthy, and costly process of probate.