Set the Record Straight With Trajan Wealth

PHOENIX - June 4, 2024 - PRLog -- Estate planning ensures your assets are protected and distributed according to your wishes, and a revocable living trust helps avoid family disputes. This legal document holds ownership of an individual's assets during their lifetime and designates how they will be distributed upon death, bypassing a potentially lengthy and costly probate process.

See how revocable living trusts can prevent family conflicts through the experiences of famous individuals:

• PRINCE. The legendary musician passed away in 2016 without a will, leading to a prolonged legal battle over his multi-million dollar estate. With a revocable living trust, Prince could have specified exactly how he wanted his assets to be distributed, thereby avoiding court altogether and the acrimonious disputes among his siblings and half-siblings that ensued after his death.
• ROBIN WILLIAMS. The beloved actor and comedian Robin Williams had a well-drafted revocable living trust in place before his tragic death in 2014. Using a trust, Williams ensured that his assets were distributed privately and efficiently to his beneficiaries without public probate proceedings. This proactive approach helped prevent potential conflicts among his loved ones.
• ARETHA FRANKLIN. The Queen of Soul passed away in 2018 without a will or trust, leaving her estimated $80 million estate vulnerable to familial disputes. Without clear instructions regarding asset distribution, Franklin's four sons had to navigate a complex probate process, leading to delays and potential conflicts. By establishing a revocable living trust, Franklin could have safeguarded her legacy and prevented disagreements among her heirs.