(Co-authored by 4Thought Financial Group CEO Brian Mackey)
The estate probate process can be a long, expensive, frustrating process, often lasting nine months to two years while moving through the courts system, potentially costing thousands of dollars in fees, and leaving beneficiaries in a state of confusion without access to assets during a time in which they are grieving over a family loss.
For these reasons, most individuals with substantial wealth prefer to plan in advance of their own death to avoid and minimize the probate process to the extent possible.
How can one avoid the probate process? While there are several potential answers to this question (and the appropriate ones depend on the specifics of the situation), one possible solution is the Revocable Living Trust (RLT).
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