Today we’re going to be talking to you a bit about the difference between a will and a revocable living trust. Basically these documents do the same thing–they say what happens to your assets when you die. However, a revocable living trust is set up during your lifetime and funded with your assets while you are still alive. In a will, you name a personal representative and that is the person that will open up a probate estate for you and distribute your property according to what your will says
There are many more differences between a revocable living trust and a will. Watch the video below for more information on the difference between these two important documents.
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Grimmel, Weiman, Ersek, Blomburg and Lewis