“Thought for the Day” #722 – by Stephen R. Elville, J.D., LL.M.

May 16, 2016

Basic estate planning involves education and counseling about the use of a will-based plan versus a revocable trust-based plan.  In essence this is a decision about choosing a course of planning that will by its very nature be subject to the probate process (a will-based plan), or alternatively choosing a course of planning whose purpose is the avoidance of probate (a revocable trust-based plan).  Understanding why you are choosing one planning direction rather than another is important and is one of the first steps in client legal education in estate planning.