Creditors Claims, Probate, and Fully Funded Revocable Trusts
The passing of a loved one is a challenging time. Legal and financial matters can further complicate the situation. Many individuals opt for estate planning tools such as revocable trusts to simplify the distribution of assets after their passing. While a fully funded revocable trust may offer benefits such as avoiding probate; it’s essential to understand certain advantages of the probate process can be lost in this approach. Namely, protecting the estate from creditors’ claims by barring them from making…