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Is it quicker and cheaper to settle an estate in which a revocable living trust was used rather than just a will?
Transcript
In a modest size estate, say a couple of a hundred thousand dollars, there’s not going to be any significant savings using a trust. A trust still requires the person that’s in charge, the trustee, to do most of the same things they would have to do in a probate proceeding. But it’s slightly cheaper, slightly quicker, because you don’t have some of the time limits that are set by law for probate and you don’t have to wait for a judge to sign off on everything you do. So it might save a little bit of money, but it’s often not an appreciable amount.
