Why You Need a Will and a Living Trust

Both a revocable living trust and a last will and testament are important pieces of every estate plan. Though estate plans also include other tools, living trusts and wills are essential because they both cover different areas. When people in California create an estate plan, they sometimes ask if they can only create one or the other. While you are never obligated to create any kind of estate planning tool, choosing to create either a living trust or a last will and testament without creating the other is a bad idea. Here is why. Your Last Will and Testament The simplest last will and testament is one in which you state your inheritance choices. You’ll also state who you want to serve as the executor of your estate. An executor is the person responsible for managing all your property after you die. Executors have to manage estate property throughout the legal process that is designed to identify who the new owners of the deceased person’s property should be. This process is known
http://www.norcalplanners.com/blog/estate-planning/living-trust/

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