| A Living Trust,
also known as Revocable Living Trust, is a legal document that, just like
a will, contains your instructions for what you want to happen to your
assets when you die. But, unlike a will, a living trust avoids probate
at death, can control all of your assets, and prevents the court from controlling
your assets at incapacity.
I
Have A Will. Why Would I Want A Living Trust?
Contrary to what you've probably
heard, a will may not be the best plan for you and your
family--primarily because
a will does not avoid probate when you die. A will must be verified by
the probate court before it can be enforced.
Also, because a will can
only go into effect after you die, it provides no protection if you become
physically or mentally incapacitated. So the court could easily take control
of your assets before you die--a concern of millions of older Americans
and their families.
Fortunately, there is a simple
and proven alternative to a will--the revocable living trust. It avoids
probate, and lets you keep control of your assets while you are living--even
if you become incapacitated--and after you die.
Learn more about Living Trusts versus Wills. |
