TRUST OR WILL

So you wonder which estate planning tool is better for them - a trust or will? Are you concerned that getting a proper estate planning attorney to write a trust or will may be extremely expensive? Further, when thinking about your own death, considering trusts and wills may be very intimidating... Well, here is a secret - trusts and wills are not exclusive - you can have both a trust and a will. While they are both estate planning documents, trusts and wills serve different purposes. So here is the basic answer: all estate plans should contain a will, regardless of whether or not a trust is included. In addition to a basic will there are other ways that assets may be transferred: through jointly owned accounts, or assets such as life insurance policies that have clear beneficiary designations. Regardless, the will is the workhorse of estate planning and is the catch-all document that disposes of assets... Do You Need A Trust or a Will?