Probate is the legal process in which a Norton Shores probate court will oversee the distribution of an estate’s assets. Generally, it is desirable to avoid probate when possible. The process can sometimes be expensive, lengthy and it is also public. A big benefit of a family trust is that it allows you to pass assets to your relatives without going through probate. You will usually be able to have a faster, simpler, more private process.

A family trust is extremely flexible and you will always be able toretain full control over it. Life is unpredictable, and there is always a chance that your needs might change. An experienced estate planning attorney can help you quickly update the document whenever your needs change. There are no limits to the changes you can make to a family trust, so you do not need to worry about making a permanent commitment when establishing a trust.

In some cases, a family trust may allow you to reduce your estate tax burden. This depends entirely on your individual circumstances. If you have a substantial amount of assets, an experienced Michigan estate planning lawyer should always comprehensively review the tax implications of your situation.