Are Trusts better than Wills?

Steve and Jodie Aguilar have four basic estate planning options:  1) Do nothing; 2) Wills; 3) Joint tenancy; and 4) Revocable Trust (also known as a Living Trust). When the Aguilars sit down with an estate planning attorney, they will learn that Wills, by themselves, in New Mexico, do not avoid a probate proceeding.  They…

What’s so Bad about Probate?

Probates are not the end of the world, but there are several reasons why they are best avoided. Wills do not avoid a probate. Revocable Living Trusts, when properly funded, do avoid probate. Forum for a Fight Probates are a lawsuit. Experience shows that fights are more common in probate proceedings than trust administrations. There…