A Living Trust allows your assets to be distributed almost immediately. Only assets in your name as an individual are subject to probate, but with a trust, you transfer assets into your name as trustee. Upon your death, nothing is subject to probate because nothing is held in your name as an individual. Instead, everything is in your name as trustee. Your back-up trustee (someone you have named) automatically takes over. The back-up trustee pays your debts and distributes your assets to your beneficiaries according to your instructions. The trust document authorizes your back-up trustee to distribute the assets, thus avoiding a probate. To act, all your backup trustee needs is your death certificate and the trust.

You may even instruct your back-up trustee to hold assets for a beneficiary until they reach a certain age, such as 21. Until your beneficiary reaches that age, the assets are available only for their education, health and welfare.