Is a Will or Living Trust Better for Me?
The answer to this question is like most answers. It depends.
Generally speaking, if you own a home (regardless of equity), a Living Trust is typically a better instrument to use because it helps to ensure proper distribution, management and preservation of your estate. It’s the only estate plan vehicle capable of accomplishing all three of these goals. However, a Living Trust is a bit more expensive to set up and it may require some additional time, care and expense to keep it properly maintained and up-to-date. While the Will is typically cheaper to set up on the front end, the potential legal costs and headaches associated with having to go through the Probate process may not be worth the potential savings from setting up a Living Trust.
Understanding all the potential benefits and drawbacks and whether or not a Will or Living Trust is right for you is best determined by meeting with a competent, licensed and experienced estate planning attorney. The attorney can look at all of your particular circumstances and go over what options may be best for you.
If you are located in the Los Angeles or Orange Counties of Southern California, the Law Firm of Kavesh, Minor & Otis can help. We have several offices throughout LA and Orange County. Having been around for over 35 years, the attorneys at the Law Firm of Kavesh, Minor & Otis are experienced in the area of estate planning and have several attorneys on staff who are California State Bar Certified Specialists in this area. If you would like to schedule a free 90-minute consultation with one of our attorneys, attend one of our upcoming free Living Trust Seminars. You can also contact our main office at 1-800-756-5596.
If you are unable to attend an upcoming seminar, please feel free to join our e-mail list and we will be sure to e-mail you of future seminar dates.
