Do-it-yourself and save hundreds of dollars on attorney fees.ĭurable Power of Attorney A durable power of attorney ensures that someone you trust (called your “agent” or “attorney-in-fact”) will be on hand to manage the many practical, financial tasks that will arise if you become incapacitated. A living trust is about as easy to prepare as a will. A Living Trust will ensure that your property bypasses lengthy and expensive probate proceedings. ![]() Although a living trust is not a complete substitute for a will (it doesn’t allow you to name a guardian for a child, for example), it is definitely a more efficient way to transfer property at death, especially large-ticket items such as a house. A revocable living trust, unlike a will, offers a fast, private, probate-free way to transfer one’s property after death. How Do Living Trusts Avoid Probate? For many Americans, a significant goal of estate planning is to avoid probate.
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