For people with more valuable estates, a trust, rather than just a will, may be the better option. If your estate is worth $150,000 or more, or you own real property, you need a trust. By placing your assets or real property into a trust, you can avoid the need for your estate to go through a probate proceeding. A trust allows you to control how your assets are managed both during and after your lifetime.
Transcript
For people with more valuable estates, a trust, rather than just a will, may be the better option. If your estate is worth $150,000 or more, or you own real property, you need a trust. By placing your assets or real property into a trust, you can avoid the need for your estate to go through a probate proceeding. A trust allows you to control how your assets are managed both during and after your lifetime.