Is a Will Always the Best Option?

estate planning

People often think that an estate plan primarily consists of a having a last will and testament created, but you might first want to consider the difference between a will and a trust.

There are numerous benefits to executing a revocable living trust as opposed to a last will and testament, in particular the following three:

  1. Probate: Once property is transferred into a revocable living trust, it does not go through Probate
  2. Privacy: Unlike a last will and testament, a revocable living trust is a private document, and is thus not published
  3. Control and Simplification: In addition to a revocable living trust not complicating the management of your assets during your lifetime, it also simplifies the transfer of your estate to your beneficiaries upon your death