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WILL v/s LIVING TRUST

Writing a will or setting up a living trust are both crucial steps in estate planning, but which one is right for you? Let's break it down:


A will is a legal document that outlines how you want your assets distributed after your death. It's relatively straightforward to create and typically less expensive than setting up a living trust. However, a will must go through probate, a court-supervised process that can be time-consuming and costly.


On the other hand, a living trust allows you to transfer your assets into the trust's ownership while you're still alive. This means that upon your death, your assets can be distributed to your beneficiaries without going through probate, saving time and money for your loved ones. Additionally, a living trust offers more privacy since it doesn't become a matter of public record like a will.


Ultimately, whether you should have a will or a living trust depends on your individual circumstances, including the size of your estate, your beneficiaries, and your personal preferences. Consulting with a qualified estate planning attorney can help you determine the best option for your needs.


The author is a Certified Mobile Notary Trust Delivery Agent (CNTDA). If you are in need of his service for notarizing your Estate Planning documents, he is only a click away via:


Regards,


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