Trusts are widely used in estate planning, so estates can avoid going through probate and maintain privacy. The terms of the trust ensure the wishes of the property owner are adhered to and their property gets distributed to the proper beneficiaries.
Having the right legacy plans and documents in place is one of the most important steps aging individuals can take, both to give themselves peace of mind and to avoid the possibility that confusion will make an already challenging situation even worse.
When you're in the midst of a divorce, you're probably not thinking about estate planning or your will. However, if you're divorcing, you should think about the impact a divorce can have on an estate plan.