A will does one thing, it specifies where your assets go upon your passing. A living trust does the same as well as naming someone to manage your assets upon incapacity. Another key difference is that a will does not avoid probate and a living trust does avoid probate. Probate is a complicated, time-consuming, and expensive court process that can be avoided with advance planning.
Simply put, if you own real estate and/or have over $100,000 in assets, you should have a living trust to avoid probate. If you’re still not sure what to do, then feel free to contact our team for help. We even have a simple tool for you to use at the outset of the interview process that will recommend whether a living trust or will based estate plan is right for you.
