You decide how and when your beneficiaries will receive their inheritance. The terms and timing are set by law. Your children could be left unfrettered control of a sizable estate. The court appoints an administrators - administrators whose ideas may not be compatible with your own. You can reduce estaste taxes and administrative expenses.
Costs are usually greater, due to required administrative expenses and unnecessary taxes.
You can provide for the orderly continuance or sale of a family business. Financial loss and family hardship may result from an untimely forced sale of a family business. This estate planning information is for general information and education purposes only. NCTR assumes no responsibility or liability for the accuracy of the information provided.