March 23, 2018

What is the difference between a Will and a Living Trust?

A Will does not take effect until you die. A Living Trust is effective as of the date it is executed (signed) and, therefore, operates during your life and after your death. A Living Trust allows you to manage and control your property while you are living. Therefore, you do not lose the ability to use, control, and benefit from your property after it has been put into the trust. Also, a Living Trust provides for the property placed in the trust to pass to the beneficiaries you have named after your death without any probate proceedings.