Category:
Estate Planning
A Will and Revocable Living Trust can both establish who benefits from your estate and who is in charge. One main difference: a Will must generally be taken to court to be enforced and a Living Trust does not. Also, some third parties (banks, title companies) are more accepting of the authority of a Trustee than a Durable Power of Attorney agent. However, having a Living Trust is not a guarantee that the probate process will be avoided. Additionally, a Living Trust is not the only way to avoid probate court. The decision whether to do a WIll or Trust should be made with the advice of an experienced estate planning attorney who can explain the pros and cons of each option.
