One of the main benefits of a revocable living trust is that it avoids probate and the substantial costs associated with probating your estate. The probate process is described above. There are, however, many other benefits to a trust, some of which are:
• Preventing the courts from exercising undue control of your assets.
• Promoting an expeditious distribution of your assets.
• Keeping your financial affairs private.
• Reducing the likelihood of a challenge to your wishes.
• Reducing the cost of future changes to your estate plan.
• Providing flexibility for protecting beneficiaries with special needs.
• Providing you with the power to keep assets in trust after your death until you want the assets distributed.
The revocable living trust provides these benefits, and more, while providing you with the same control over the assets that you had without the trust. You can change or terminate the trust at any time and you can use your assets as you please during your lifetime.