Just Buried Movie

In many, many cases—especially in states with statutory probate fees—trusts are far superior to wills. Clients who come to me for financial advice, whether they’re single, married, or living together, end up with a thorough education on trusts. As we just saw in Nancy’s case, if you die leaving a will, in all states the only way for property valued over $100,000 (or as little as $60,000 in some states) to transfer from the name of the deceased to the beneficiary is to have a judge do it through the probate courts. In most states this is expensive and time- consuming. With a trust you save time and you avoid probate fees and legal fees. If Nancy had had a trust instead of a will, and specified where she wanted the house to go, the house would have gone directly to Jeff—no probate fee of $15,000. No courts. No attorneys. Nancy’s wishes would have been carried out smoothly, and Jeff would at least have been allowed to grieve in his own home in peace.