What are the advantages of a revocable living trust?
A properly drafted revocable living trust avoids probate and allows family members to keep your financial information private. By avoiding probate, your family can also save the costs associated with probate and the lengthy delays necessitated by the court process. Since the trustee does not have to navigate the complicated probate process, the trustee can settle the estate much faster.
A living trust also allows you to outline ahead of time who should care for your property, finances, and yourself in the event you become disabled or incompetent. This eliminates the need to apply to the court for a guardian or conservator for assets titled to the trust.