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Article: Living trusts avoid probate's hassles for those wealthy enough to benefit
- Article from:
- The Milwaukee Journal Sentinel (Milwaukee, WI)
- Article date:
- June 30, 1996
- Author:
CopyrightCopyright 1996 The Milwaukee Journal Sentinel. Provided by ProQuest LLC. (Hide copyright information)
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The growing popularity of revocable living trusts is not
surprising, considering the advantages they offer to anyone with a
sizable estate, says financial planner Michelle Cody.
First, a living trust avoids the expense and delays of probate at
death, allowing your trustee to make a swift and confidential
distribution of assets to your beneficiaries, says Cody, a
Racine-based certified financial planner.
"It offers privacy," she says. "Nosy people can't go down to the
courthouse and look at all the family laundry."
Second, a living trust allows your financial affairs to be managed
by your trustee during your lifetime in the event you become
physically or mentally incapacitated.
Cody ...