Wills vs Trusts

Wills: Like Having a Picnic on a Blanket

  1. Public
  2. Probate process is required
  3. Multi-state properties = multi-state probate courts
  4. Guardians for minors
  5. Lifetime protection trust for children
  6. Special needs trust or supplemental needs trust (optional)
  7. Georgia probate fees - not expensive
  8. Hearing Costs ($$ and time) Are Expensive
  9. Cannot manage property / sign contracts until someone approved as executor or administrator
  10. Stress is increased because of the job of understanding and following a legal process, legal documents and maybe a hearing or two.

Trusts: Like Having a Picnic with a Basket

  1. Private
  2. No probate court intervention
  3. No multi-state probate court intervention
  4. Guardian for minors
  5. Lifetime projection trust for kids (optional)
  6. Special needs trust or supplemental needs trust (optional)
  7. Probate fees = $0
  8. Hearing costs = $0
  9. Can manage property / sign contracts immediately upon the resignation or death of a prior trustee
  10. Stress is decreased because the trustee is continuing to follow the instructions on the trust

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Best of North Atlanta Living Trusts

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