Estate Planning AssistanceEstate Planning Assistance Services

Trust the professionals at JMS Estate Planning Services, Inc. to provide assistance in creating the proper estate plan for you. The chart below illustrates how a living trust enables you to maintain control of your assets should incapacity occur, and distributes your assets upon death without the necessity of the probate court process.


For a free phone consultation, please contact your local Palm Coast estate planning facilitator at (386)-446-0317 or use our web contact form.

Estate Planning Comparison Chart

Issue

With no Will

With a Will

With a Living Trust

Incapacity

Court Control/Probate

  • Court appoints conservator/ guardian who oversees your care
  • Must keep detailed Records & Reports for the Court
  • Court controls all your finances and assets
  • Court approves all expenses

Court Control/Probate

  • Same as with no Will

No Probate

  • Affairs managed by your back-up Trustee
  • Follows your instructions for as long as necessary

Court Costs

You pay all Court costs, legal fees

Same as no Will.

None

Death

Probate

  • Court orders debts paid and possessions distributed (according to state law)
  • This may not be done in a way consistent with your wishes

Court Control/Probate

  • After verifying Will, Court orders debts paid and possessions distributed according to Will

No Probate 

  • Debts paid and possessions immediately distributed to beneficiaries

Court Costs
  • Your Estate pays all Court costs and legal fees
  • Typically 3-8% of gross value of your Estate
  • Higher if more than 1 State is involved

Same as no Will

None

Time

1-2 years or more before heirs can inherit

Same as no Will
  • Typically a few months for larger Estates
  • 4-6 weeks for smaller ones

 

Flexibility and Control

None

  • Property controlled & distributed by Probate Court according to State Law
  • Easy to contest

Limited

  • You can change Will at any time
  • Can be easily contested
  • No control over Probate costs or delays

Total Flexibility

  • You can change/discontinue Trust anytime
  • Property remains under total control of Trust
  • Hard to contest

Your Privacy

No Privacy

  • Probate proceedings are public record
  • Exposes family to unscrupulous solicitations, greedy heirs, nosey neighbors

No Privacy
Same as with no Will.

Total Privacy

  • No Probate
  • Living Trusts are not public record