(via) eNewsletter August 26, 2009In recent years, living trusts have grown increasingly popular as substitutes for wills in estate planning. Here's what you should know about estate planning with a living trusts:
Most people understand the importance of a will, but many are not familiar with trusts. Both a will and a trust can be used to transfer your property when you die, but the similarity ends there. A will has no effect until you die, while a living trust becomes operative during your lifetime to manage your assets. While a will is a part of the public record a trust is not, thus providing greater privacy. Trusts are usually easier to amend than wills and less likely to be contested by your heirs. Continue reading»
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