Wondering what the alternative to an expensive probate dissolution might be?
A revocable living trust may be the answer in most cases.
Trust
A trust is a legal structure, similar to a will. The will used to be the primary estate planning document, but with the advent of various forms of nonprobate transfers, it has declined in importance. Through the use of joint tenancy and beneficiary designations, it may be possible to completely bypass probate. In such a case, the will may have no purpose.
The revocable trust has been part of this evolution toward non-probate transfers, particularly in states with difficult probate systems. Where the will once was the central point through which testamentary transfers had to pass, now testamentary transfers may be directed by a variety of non-probate means. Trying to coordinate all these different forms of testamentary transfers should be an increasingly important function of revocable trusts.
If you find yourself the Successor Trustee of a Living Trust, the All Montana Team is well-versed in the differences between a trust sale and a traditional residential transaction. The disclosures, documents, and processes vary depending on how complex the trust presents. We understand where we need to involve your attorney and where we can step in and save you time and money through the disposition of the decedents property.
