Why Your Estate Plan Will Include a Will and a Living Trust

Sometimes people ask estate planning attorneys questions about wills or living trusts that reflect common misunderstanding of what these two tools are designed to do. When you and your estate planning lawyer create an estate plan, you will decide on some specific elements to include that will allow you to address each of your needs. Depending on your particular circumstances, the tools you decide to create might be very different than those someone else uses. However, two of the most important estate planning tools today, a last will and testament and the revocable living trust, are usually included in every estate plan. Here’s what you need to know about these two essential tools. Your will takes effect after you die. A last will and testament is designed to give you the ability to express certain types of choices that you want to make after you die. Until you die, you retain the right to change your will and any of its terms. Yet regardless of the choices you make in your will, it
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