Living trusts and estate planning

Do I Need a Will or a Living Trust?

Many folks wonder if they need to choose between creating a will, or alternatively, establishing a family living trust. Many professionals agree it’s not one or the other but both.

A will, which becomes effective upon your passing, stipulates what you want to be done with your assets after you die. A living trust becomes effective immediately upon its creation, can be changed any time during your life, and often includes a will as part of its structure. In addition, there are many other benefits of having a revocable living trust that are not addressed by a will, particularly the avoidance of probate upon your death.

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