When property passes through probate, you may incur many costs which can be substantial depending on the size of your estate and the location of any real property. All of these fees and expenses can reduce the estate to be distributed to your beneficiaries. With a living trust, these fees and costs can be greatly reduced. Your assets are transferred immediately to your designated beneficiaries outside the court system in accordance with the directions specified by you in the trust agreement. Costs of administration of a living trust can be minimal and are generally based on the actual time and/ or services required.