Main Street Business #578 The Complete Guide to Estate Planning
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May 27, 2025 Learn why every adult needs a will and revocable living trust to safeguard their wishes and assets. Discover the staggering fact that 50% of Americans lack a will. Trusts offer greater control over asset distribution and privacy benefits compared to wills. Hear about the flexibility of trusts, allowing changes as life evolves, and the importance of choosing the right trustee—especially in blended families. Explore how living trusts can sidestep probate court, easing burdens during tough times. This podcast is a must-listen for securing your family's future!
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Avoid Probate With More Than A Will
- Do not rely on having only a will for your estate plan as it results in probate, which is slow, public, and costly.
- A will requires court approval, reducing privacy and increasing complications for your loved ones.
Trust Controls Timing and Conditions
- A revocable living trust provides control over not only who gets your assets but also when and under what conditions.
- Trusts enable custom conditions to protect beneficiaries from premature or irresponsible inheritance.
Trust Privacy Benefits
- Trusts ensure privacy because they are not public records like wills are.
- This privacy reduces family disputes and keeps asset details confidential after death.