Q: What would be the advantages to putting my property into a living trust?
A:
There are advantages and disadvantages. This is ONE way to insure that if something happens to you there is someone else who has authority to handle affairs with the trust assets, it also CAN avoid probate (but if you do things wrong it can also DOUBLE the cost of probating an estate) and it CAN be used to manage affairs after your death if you have a 'special needs' child or other situation where you want to exert some greater control over your estate.
It can ALSO increase the cost of managing your affairs greatly and add legal and practical complexity to managing your affairs both before and after death if you aren't careful. It can increase the cost of recording documents, and generally make your life either simpler or way more complicated depending on how savvy you are and how well you manage your accounts.
There is no 'one size fits all' estate plan. Anyone who tells you 'everyone needs x' is either an idiot or they are trying to get you to open your wallet unnecessarily. Seek out competent local LICENSED attorney assistance to plan your estate according to YOUR needs not just someone who holds a 'free lunch' seminar to get you to buy a trust.
There are reasons to avoid probate, and there are reasons to ENSURE you DO go through probate. Seek actual advice with someone who can explain the pros and cons of any given plan.
--This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship. I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice!
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