Planning to avoid or reduce the unpleasant aspects of probate administration is often cited as one of the primary benefits of revocable trusts. For example, upon your death, the probate court appoints the executor named in your will to be responsible for making an inventory of your assets, paying your outstanding debts at death and then distributing the assets remaining in your estate in accordance with your will. The entire process can be costly, time-consuming and public. New Hampshire probate is needlessly so. Fortunately, your family need not suffer from the benign neglect of our policy makers.
Probate is voluntary, self-inflicted pain.
If you change title to your assets to your revocable trusts during your lifetime, then upon your death or incapacity the successor trustee appointed under the trust has authority to manage and distribute your assets in accordance with the terms of the trust. Since the assets do not pass into your estate, there is no need for probate. You avoid all of the costs, delays, and publicity. The trustee named in your trust has the fiduciary duty to manage and distribute trust assets in accordance with the trust terms. There is currently no direct probate court supervision of this process.