After Death Benefits Chart

After Death Benefits Chart compares the Advantages and Disadvantages of a Private Asset Trust, Living Trust, Corporation/LLC, and a Will.

AFTER DEATH BENEFITS	With a Will	PRIVATE ASSET TRUST	Living Trust	Corporation or LLC
Eliminates Probate	No	YES	Trustee Must Sign	No
Eliminates Medical Bills	No	YES	No	No
Eliminates Death Taxes	No	YES	Sometimes	No
Eliminates Credit Card Bills	No	YES	No	No
Continue Protection of All	No	YES	No	Sometimes
Eliminates Divorce Claims	No	YES	No	No
Eliminates Prenuptial Agreements	No	YES	No	No
Allows Tax-Free Vehicle Sales	No	YES	No	No
Buy, Sell, or Loan Assets	Normal	Trustee Must Sign	Trustee Must Sign	Officer Must Sign
Flexibility to Do as You Want	Normal	YES	Yes/Sometimes	No
Maintain Privacy of Beneficiaries	No	YES	Sometimes	Seldom
Maintain Privacy of Control	No	YES	No	No
Separate and Protect Individuals	No	YES	No	Sometimes
Maintain Business	No	YES	No	Sometimes
Limit State and Federal Taxes	No	YES	No	Sometimes
Limit Self-Employment Taxes	No	YES	No	No
Limit Lawsuit Liability	No	YES	Sometimes	Sometimes
Change Beneficiary Benefits	N/A	YES	Sometimes	No
Allow for Private and Government Health Care	No	YES	Sometimes	No
Documentation and Accounting	Normal	Normal	Normal	Extensive
Annual Reporting and Fees	No	No	No	Yes
Valid in Multiple States	Sometimes	Yes	Sometimes	No
Startup Costs	Minor	Sometimes High	Sometimes High	Sometimes High
Annual Costs	High	Minor	Minor	High
Difficulty of Management	Minor	Minor	Minor	Extensive

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