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Revocable Living Trust vs. Last Will

Source: Law Depot

Revocable Living Trust vs. Last Will

Planning your estate and your end-of-life arrangements is a unique experience for everyone. There are many ways to combine the documents you need to ensure that all of your assets are managed and distributed in line with your wishes. Since each estate planning document has its own specific purpose, this presents an opportunity to compare similar forms and contracts to see how they best suit your needs. In this post, we’ll discuss a Revocable Living Trust and a Last Will and Testament—similar documents that both instruct how to distribute your assets after death but differ in their creation and execution processes. What are Revocable Living Trusts and Last Wills? A Revocable Living Trust is a legal document—usually made to transfer wealth, or protect assets—that can be revoked or amended during the life of the grantor (the owner of the estate in question). It’s a private contract where a grantor places…

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