What happens to your property after you pass away? Who will have the responsibility, and the authority, to manage your assets and affairs when you’re gone?
If your estate plan uses a trust (as opposed to a will), and it has been properly maintained, your heirs will not have to go through the probate process when you pass away. Trust estate administration is based on the same concept as a Probate: after you pass away, someone is granted authority to manage your assets and carry out your wishes. Unlike probate, however, trust estate administration does not require court supervision. Without court supervision, trust estates tend to be less costly than probate, take less time, and generally go more smoothly. Additionally, while probate creates a public record of the entire process, a trust administration can be kept private.