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Definition of a Trust
What Does a Will Do?
Advantages of a Living Trust
Difference Between Will & Living Trust
Purpose of a Living Will
How to Set Up a Living Trust
How to Set Up a Living Will
What Is a Bypass Trust?
The Pros & Cons of a Bypass Trust
Cost of Setting Up a Living Trust
How are Trusts Taxed?
What Is a Revocable Living Trust?
The Purpose of an Irrevocable Living Trust
What Is a Durable Power of Attorney?
What Is a Probate?
Do You Always Have to Probate a Will?
When Do You Have to Probate a Will?
If You Die Without a Will is Probate Necessary?
What Is Made Public in a Probate?
The Probate Process Explained
What Is Estate Planning?
When Should I Begin Planning My Estate?
What Documents are Needed for Estate Planning?
What Does it Take to Be an Estate Planner?
What Is a Constructive Trust?
What Are Capital Gains Taxes?
What Are Capital Gains in a Bypass Trust?
Tenants in Common
Required Minimum Distribution
Federal Inheritance Taxes
What to Do When Someone Dies
A Checklist for When Death Occurs
Have You Been Named in the Will?
Have You Been Named a Beneficiary in a Trust?
Are Wills Open to the Public?
How Do I Contest a Will?
The Probate Inventory
When Does the Trust Stay Private?
What Is an Heir?
What Are the Rights of Heirs?
What Is an Heir Apparent?
Do Some Heirs Have More Rights Than Others?
What Is a Missing Heir?
Heirs' Rights in Absence of a Will
Definition of an Estate Executor
What is a Domiciliary Executor?
Guidelines for Choosing an Executor
What Is Executor Compensation?
Can a Trustee or Executor be Replaced?
How to Draw Up Executor of Estate Paper Work
What Is the Role of an Executor?
Guide for Estate Executors
Are There Executor Fees?
What Is an Executor's Deed?
Must an Executor Notify a Beneficiary?
Do Creditors Get Paid When Someone Dies?
Does the Will Say How Life Insurance is Paid?
Does a Will Trump Life Insurance?
Is an IRA or a 401k Paid According to the Will?
If You Are Beneficiary of an IRA or 401k
Who Gets Life Insurance Payable to an Estate or Trust?
What Happens if an IRA or 401k is Payable to the Estate Trust?
What Does it Mean if a Bank Account Says POD?
What Does it Mean if a Bank Account Says ROS?
Does it Avoid Probate to Have Accounts in Joint Tenancy With Right of Survivorship?
How Many Months Do You Have to File an Estate Tax Return?
When Do You Have to File an Estate Tax Return?
Do You Have to File an Income Tax Return After Someone Dies?
What Part of Your Estate is Taxable?
What Is a Family Estate Trust?
What Are Gift Taxes?
Asset Protection vs. Estate Planning
Elder Law vs. Estate Planning
Retirement Planning vs. Estate Planning
What Is Trust Fraud?
Estate Planning Checklist
Whom to Notify When Someone Dies
Family Estate Trust or Revocable Living Trust?
Tips for Wealth Management
General Types of Wills
How to Become a Probate Attorney
A will is in effect after death, but power of attorney is a living document. If a person is alive but inca… More
A living trust can help beneficiaries and families avoid probate more so than a will. Find out the differe… More
A living will, or advance directive, gives a named person the ability to 'pull the plug' in some medical i… More
What is the difference between a living trust and a will? A will makes sure that an individual's wishes ar… More
A living will is an instrument that allows an individual to speak for themselves, through the will, if the… More
A will & testament is an instrument that allows an individual to speak for themselves, through the will, i… More
Estate planning is important as every individual eventually develops an estate. Learn about the importance… More
Many documents are created in estate planning including living trusts, advanced directives, power of attor… More
A will is a legal document in which an individual lists the fashion in which he would like his estate divi… More
A will is a legal document in which an individual regulates the legal rights regarding their property and … More
Wills come in many types, and setting up a small trust or a bypass trust can help heirs with reduced estat… More
Under the Public Information Act, wills are open to the public, and anyone may see anyone else's will. Fin… More
Summary: A living trust can help beneficiaries and families avoid probate more so than a will. Find out the difference between a will and a living trust from an estate planning and probate lawyer in this free video on estate law.
Brad Wiewel is board certified in estate planning and probate by the Texas Board of Legal Specialization and has been practicing law since 1978. His firm, The Wiewel Law Firm, is...read more
"One of the big questions we get at our firm is what's the difference between a will and a living trust. And a will is strictly a death instrument. A will says when I die my family gets these assets. One of the things to keep in mind about wills, and it's very important to keep this in mind about wills, is that wills only pass to your family probate assets. Homes perhaps, cars perhaps, money in the bank account perhaps. Wills do not control beneficiary designated assets like IRA's, insurance polices, annuities. Living trusts tend to be more flexible when somebody dies for a couple of reasons. One is you can name your living trust as the beneficiary on your insurance policies, you can name your living trust beneficiary on your retirement accounts, although you've got to have a properly done living trust to do that. You can also pass your property to your family without going to probate if you have a living trust. If you have a will then there is an excellent chance probably a one hundred percent chance your family will go through probate when you die. Probate is the process of taking your name off of the asset and putting the asset in the name of your loved one, or your heirs. With a living trust, the living trust says when I die the trustee changes the trustee, the new trustee is charged with taking the money that's in the trust and giving it to my family. We don't have to go to court because you don't own it, it's owned by the trust."
eHow Article: Difference Between Will & Living Trust
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