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Linda Hall
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818-790-6774
818-248-7988
Linda.Hall@
Dilbeck.com
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    Trust vs. Will*

TRUST

WILL

Avoids the cost of probate

Costs, on average 10% of your estate

Avoids the delay of probate

Takes 14-22 month average

No attorneys as heir

Usually involves attorney fees

No judge as heir

Probate judge

No ads for creditors

Newspaper ad is required

Private / Confidential

Public information in courthouse

Difficult to contest

1/3 are successfully contested

Assets are exempt from attachment

No protection from attachment

Goes into effect immediately

Goes into effect when you die

Can provide for your financial and personal care if you become incapacitated

No provision for care

Can reduce or eliminate Federal Estate Tax

No reduction in estate taxes

Settled in hours after death

Takes months

Lists all assets

Assets have to be found

Assets readily available

Frozen assets

Avoids the need for joint ownership

Has no effect on joint ownership

You are in charge

Probate court is in charge

 

* This is not a legal opinion