Carl Nofuente, MaCa Financial Planning

The Nifty Thrifty Dentists · Jan 25, 2020 · 43m

Carl Nofuente is an estate planner and a certified financial educator. What is the difference between a will and a trust? If you die or become incapacitated without a will, it will enter something called probate. It takes time and money to get an estate out of probate to release the estate. A will does not keep it out of probate but does designate specifics of how to divide up the assets. A typical fee to release an estate from probate is approximately 5% of the estate’s value. This amount can be as high as 15%. A trust avoids probate and keeps the record of transferred assets private. It is…