How to Avoid Probate(5 Of 7 In Lou's Trust Series) - Street Smart Cash Flow Accelerator #47

Today's tip - Have your estate avoid probate using trusts.

My suggestion to you is do not hold property in your own name. Hold property in this wonderful, incredible entity that God created called trusts. This came over on the Mayflower. It's been around a lot longer than LLCs, corporations and limited partnerships and one of the great things is that because you have the trust because the property is already interest, you've already determined who the beneficiaries are, then there's no reason for probate and in fact trust is the only thing that avoids probate.

So doesn't it make sense to avoid the costs, the delay, the aggravation and the need for an attorney? It can all be eliminated simply by planning your estate. Putting each asset into its own trust, determining who the beneficiaries are, doing all the paperwork now instead of later and with the process of probate, many things can go wrong and certainly there can be a huge expense that you could avoid.

My suggestion to you is learn the magic of trusts. You can do that by simply going to my website streetsmartinvestor.com and on tools.