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Estate planning Archives

Revocable Living Trust v. Will: Which Is Right for You?

Choosing between a revocable living trust and a will for your estate plan depends on your personal concerns and goals. The main difference between the two estate planning options is the necessity of probate. A will requires probate, which is a court-supervised process that administers your estate to your heirs and beneficiaries. On the other hand, a revocable living trust does not require the court-supervised probate process. Consequently, this option obtains more privacy by creating a trust agreement between the trust creator, or grantor, and the trust entity. The grantor often serves as the trustee, managing the property placed within the trust, until he or she dies and a successor trustee takes over, distributing trust property per the trust agreement.

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