There are many reasons why it’s a good idea to set up a trust as part of your estate planning process. For most people, it can result in great benefits which include avoiding having to navigate probate and making sure your beneficiaries receive what you intended for them with a relatively low risk that your wishes will be challenged after you’re gone.
As a person makes a trust during their lifetime, it’s intentionally supposed to be relatively difficult for another person to challenge the validity of that trust after that individual has passed away.
Trusts usually serve as a clear indicator of someone’s wishes
The purpose of setting up a living trust during your lifetime is that you can make important decisions concerning who should take over your possessions, property and even your business ventures after you die or become incapacitated
Certain kinds of trusts can often be in place for many years and the person to whom it relates may administer it throughout their lifetime. It’s also likely that a trust may go through amendments at certain points when the personal situation of the creator changes.
As a result, it is expected that the individual preparing this trust does so of their own free will. It’s much more difficult with a trust than it is with a will to argue that it was made under duress or wasn’t executed in accordance with that person’s wishes. This is the main reason why it is so difficult to contest the validity of a trust.
Understanding your legal rights is important if you’re considering contesting a trust. Finding out more about the process of probate litigation can help you to decide on the appropriate course of action for your unique circumstances.