Disadvantages of a Living Trust

November 5, 2007

Disadvantages of Creating a Living Trust. Disadvantages to creating a Living Trust are few.  The primary disadvantages are: 

The cost of establishing a trust.  A trust will cost more than a simple Will, though these costs are commonly less than the cost of going through probate. 

The process of funding a trust can be tiresome and time-consuming.  This is most commonly a burden if there are many bank accounts.  Most assets are easily retitled to the trust with a little guidance from your attorney. 

Finally, a Living Trust does not shelter your assets from creditors.

Posted by Dan Dorsch | Filed Under Living Trust, Estate Planning Documents, Estate Planning, Blog 

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