Many Loudoun County residents have concerns about estate planning. They may be led to believe that a living trust is absolutely essential and without one, their estate will end up going through probate and turn into one huge mess. This is not always the case. In fact, many people don't need a trust for their estate planning needs.
Trusts are more expensive than wills. A typical will can cost a few hundred dollars, while a trust can set a person back several thousand dollars. Despite this price discrepancy, many people are led to believe that they need a trust if their goal is to avoid probate. For small estates, however, many states make the process easier and even allow the beneficiaries to avoid probate altogether by structuring assets throuhg a simple will rather than a trust.