Prepare Today for Peace of Mind Tomorrow
Most of my life I travelled frequently for business and found myself worried as the plane took off because I had not taken care of my assets for my family. Finally, I quit procrastinating and got a Will and Living Trust completed. Wow! It gave me a new piece of mind – and a better night’s sleep.
Even if you have a small number of assets, especially a home or other property, you need a will that controls who inherits your property and who will care for your children, if you have children who are minors. A Will allows you to appoint an executor to carry out your wishes.
- Feel confident when life changes
- Trust that your documents are legal in your state
- Be secure knowing who will make decisions on your behalf
- Feel free to make changes and revisions anytime
A Living Trust is a Necessary Companion to Your Will
A Trust allows you to distribute your assets and provide property management while keeping your trust property out of lengthy and expensive probate proceedings after you die – a must! The advantage of a living trust over a will is that property left through a trust doesn’t have to go through probate court after your death, saving your family time, anxiety, and money.
Why Do I Need a Will & Living Trust?
A Living Trust does not include everything you own – it covers only property you have transferred, in writing, to the trust, in many cases. And a will includes things a Trust does not include. In many states if you have minor children and want to name a guardian for them you must use a will. You can’t use your living trust. You can also use a will to forgive debts owed to you, something that isn’t done in a trust document.
What Type of a Will Do You Need?
If you use a living trust as your primary way to leave property, all you need is a simple will that states who should inherit any property that you don’t specifically transfer to your living trust or that you want to leave to someone in another way. For more information about wills, see the articles in Nolo’s Wills, Trusts & Estate Planning section.
You can also use Nolo’s bestselling Quicken WillMaker & Trust to make a valid will and living trust, as well as other estate planning documents such as powers of attorney and advance medical directives.