Legal Question in Wills and Trusts in New Jersey

There are several reasons why somone might choose a living trust over a will, including:

1. May help to minimize probate in states where probate is overly complicated/court supervised;

2. May speed up estate administration;

3. May provide additional privacy [trust is not part of probate record];

4. May help during lifetime, by appointing co-trustee or successor trustee to handle financial decisions.

I agree with Jon and add some additional reasons. Saving administration costs and probate fees. Also, if properly done, considering there are different types of "living trusts", revocable and irrevocable, it can accomplish death tax savings, income tax planning, asset protection from creditors or in case of divorce, a way to assist handicapped family members without their losing public assistance (special needs trusts) and similar benefits. If you are interested in more information, contact me directly. This is a response to an Internet question and the reply is not intended to be legal advice or as creating an attorney-client relationship.