Are wills more effective tools to transfer assets than trusts?
November 13, 2002
Date: Thu, 17 Oct 2002
Your website promotes wills. What about Living Trust? Aren't they a more effective tool to transfer assets?
Date: Fri, 01 Nov 2002
Of course I encourage people to investigate using living trusts. Bear in mind that living trusts help you avoid probate, not estate taxes. You can accomplish the same tax benefits with a trust under a will (testamentary trust) as with a will.
You still should have a will, typically called a "pourover will", with a living trust.
You would be shocked to learn how many of the people I interview have no will or trust. First things first.
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