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Major real estate advantages of living trusts

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Two subjects nobody enjoys thinking about are death and taxes. Because April 15 just passed, we don't have to talk about income taxes until next year. But death is a topic that is difficult to avoid, especially as the huge "baby boomer" generation approaches its golden years. Shockingly, less than 20 percent of the U.S. population has a written will designating who shall inherit their assets after death. If a person dies without a will, he or she is said to die "intestate." The state law of the residence then determines who automatically receives the assets, usually a surviving spouse, children, or other close relatives. Purchase Bob Bruss reports online. However, especially in second marriages, intestate succession often results in unintended consequences. Also, except for very small estates, probate court proceedings are usually required when a person dies without a will, thus delaying distribution six to 18 months, and often longer. Another reason to avoid probate court proceeding...