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In this overview, estate planning attorney Paul Rabale explains what a living trust is and its role in estate planning. He emphasizes that when individuals die owning assets in their name—such as homes, rental properties, stocks, and business interests—these are classified as probate assets. These assets become inaccessible to surviving family members or heirs until they undergo a lengthy and costly probate process, regardless of whether a will exists. Many people find this process to be a hassle. Rabale notes that individuals can also possess non-probate assets, which do not require court involvement for transfer after death, highlighting the advantages of establishing a living trust to avoid probate complications.