Q: What’s your opinion of the probate process?Under what conditions do you recommend a Living Trust?
How do I protect my children from abusive relatives if something happens to me?
How long will it take to set up my Trust?
A:
Probate is expensive, time-consuming, difficult and public. I am not a fan. I do try to design plans for my clients that avoid probate.
You can help protect your children from abusive relatives if you put their inheritance in a trust with a professional fiduciary in charge. That way an abusive relative would find it difficult if not impossible to weasel money out of your children.
The amount of time it takes to set up a trust varies. Every attorney has a different backlog. Typical is about four to six weeks, but it can be accelerated if you are willing to pay a steep rush fee and if you are super-responsive to the attorney's requests for information during the design and drafting process.
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