The estate planning industry has always been divided on choosing between wills and trusts. Some estate planners swear by revocable living trusts because living trusts allow estates to avoid probate. Others see no problem with having a last will and testament in place and are wary of the complications of properly setting up a trust. Understandably, many are confused as to what is the best option.
Washingtonians truly have the luxury of being able to choose either option and maintain great results. This is because Washington State has a very streamlined probate procedure. Washington does not have the nightmare probate process of many other states. So why would anyone choose a revocable living trust over a last will and testament?
The answer is privacy concerns. Probate is a court procedure, which means that filings can be accessed by the general public. For most, this is not a deal breaker, but for those with privacy concerns, a revocable living trust may be a better option.
Disclaimer: The purpose of this post is to provide general information and a general understanding of the law, not to provide specific legal advice. By accessing this blog site you understand that there is no attorney-client relationship between you and Sekhon Law, PLLC. This post should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.