Living Trusts

A revocable living trust is sometimes referred to as a "Will-substitute," because a living trust is a substitute for a last will and testament. In New Jersey, a state in which probate is a simple and inexpensive process, the benefit of a living trust is minimal; however, for New Jersey residents who own real estate in states other than New Jersey, a living trust can be a useful part of their estate plans. Living Trusts can be used as a probate-avoidance tool, particularly for individuals with real property in more than one state.

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