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In this overview by estate planning attorney Paul Rabale, he explains the concept of a living trust and its significance in estate planning. He emphasizes that assets titled in an individual's name, such as homes, rental properties, stocks, and business interests, are classified as probate assets. Upon death, these assets are frozen, making them inaccessible to heirs until they undergo a potentially lengthy and costly probate process, regardless of whether a will exists. Many perceive this process as a hassle. Additionally, some assets may not require judicial involvement for transfer, further underscoring the benefits of establishing a living trust to avoid probate complications.