Trusts

A trust is a legal document that will partially substitute for a will. With a revocable living trust, your assets are put into the trust, administered for your benefit during your lifetime and transferred to your beneficiaries when you pass away, all without the Court’s involvement. You will also name a successor trustee, the person who will administer your estate after your death or are unable to do so, in the trust.

A living trust does not, however, remove all need for a will. Generally, you will need a will (pour over will) to cover any assets that have not been transferred into the trust.