Major advantages of a revocable living trust

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I wish there was more space to list all the benefits of a living trust. Here are a few: 1 – If you own real estate or other assets in more than one state, a living trust can avoid costly multistate probate proceedings in each state. Millions of homeowners own a primary residence in one state and a vacation or second home in another state. In addition, they might own real estate in other states. If they die with a will, but without a living trust, probate proceedings will be required in each state where real property was owned. However, if title to all the properties is held in the trustor's living trust, that trust is valid in every state so probate proceedings would not be required in any state where living trust real estate is owned. There is no need to hire any probate attorney because the successor trustee can transfer the property titles held in the living trust. Purchase Bob Bruss reports online. EXAMPLE: A few years ago, my Minnesota neighbor Borgie died at 83. She owne...