There are many different aspects of a person’s financial life that the person must be aware of at all times. One part of this that can often be forgotten, is a person’s estate plan. It can always be difficult to plan for a person’s death, but it is a necessary task. By understanding all of the estate planning tools available to individuals, people can make the best decisions on how to distribute their assets following their death.
Many Oakland residents may believe that a living trust is important to avoid the probate process. These people understand that probate can be a lengthy, expensive process and an extra burden on their families after they are gone. While a living trust may be appropriate in many situations, there are also times when it may not be the best financial option for everyone.