Some obvious advantages include the following:

1. Living Trust Avoids Probate: One of the first benefits of a living trust is that it avoids probate. With a valid will, your estate will go through probate, the court process through which your assets are distributed according to your wishes by the executor.
   A living trust, on the other hand, does not go through probate, which often means a faster distribution of assets to your heirs in accordance to your stated wishes.
2. A Living Trust Saves You Money: Assets such as stocks and bonds are transferred to the trust in the life time of the Settlor to avoid unnecessary taxes upon death.
   A living trust can save your estate money at the time of your death as the distribution of assets in the trust will not go through probate; note that court costs for probating your will are funded from your estate. Our testamentary trust services would usually include the following:

• Assets Collating and Compartmentalizing; at the instruction of a client, we compile the list of assets and liabilities and compartmentalize same to give a rounded value for the sharing and managing of the assets for an intended Will.
• Drafting of the Will; we go beyond encouraging our client to plan their assets for after-demise and actually engage in rendering legal Draftsmanship and advice to client. A Will is a preferred option to Intestacy (i.e. without a Will) since it ensures that property devolves in line with the testator’s wishes. Having a Will also saves significant amounts of money in legal fees and eliminates the time-consuming process of obtaining Letters of Administration.
• Updating of Will; Possession, wealth and even family may grow and increase at one point or shrink at another. We will help facilitate a review of our client’s Will at every significant change or Estate tax law shift. This can be done by a codicil or drawing up an entirely new Will.
• Executorships; another important aspect of a Will that is often overlooked is the appointment of a good executor. While some testators appoint executor(s) who is also a named beneficiary thus creating a complex and sometime messy situation, the neutrality of the executor is a key component to a successful execution of a Will. A corporate Trustee like STL with the required professional expertise in ensuring effective and efficient implementation and disposal of the Will without favour or bias would offer a most reliable service as executor to carry out the intent and content of a testator’s Will.