It is created for the purpose of holding ownership to an individual's assets during his lifetime and distributing those assets at the time of his death. Usually the individual is also the trustee of the living trust and can control the assets even though they belong to the trust. The intent of the trust is to eliminate the need for probate of the individual's estate at his death. However, living trusts are also being sold through mass marketing by several companies to senior citizens in one of the fastest growing consumer blitzes in the nation. These companies are selling living trusts to senior citizens by the use of misleading claims and representations.
Attorney fees are high for probate services .
This also is not true. The requirements of the probate code take only limited attorney hours. Attorney fees increase in the event of tax issues or issues of the valuation of assets. These issues can also arise if a living trust is used. Safe deposit boxes and bank accounts are impounded in probate.