Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

I have heard that a Living (inter vivos) Trust is a good way to avoid the costs of probate and inheritance taxes. Is it a good idea?

April 26, 2017avoid costs good heard Inheritance inter vivos Living probate Trust

0

Posted

I have heard that a Living (inter vivos) Trust is a good way to avoid the costs of probate and inheritance taxes. Is it a good idea?

1 Answer

0

Posted

Probate costs are usually minimal. A Living Trust does not save inheritance taxes or estate taxes. A Living Trust is a good idea if: (a) You own real estate outside the Colorado. (b) You want to keep something private. (c) You may move to another state where probate is more complex. (d) You may acquire real estate in another state such as a vacation home or retirement home. (e) The size of your estate is substantial or complex.