Living Trusts
A living trust is commonly used instead of a will because it allows you to transfer property to your beneficiaries upon your death without having to go through probate/court proceedings, which can tie up a person’s estate for several years and potentially consume a large portion of your estate’s value in court fees. A revocable Living Trust is created during your lifetime and becomes irrevocable upon your death. It can also be amended or terminated any time during your lifetime as long as you remain competent.