Wills and Trusts, do we need both?
My father died about a year ago, and my mother had a living will prepared a while ago. There is only me and my sister in the family. I was told that a will is sufficient, and that you don’t need a living trust. But now I’m hearing that if you don’t have a living trust along with a will, someone can contest it, and it can end up in probate. I want to avoid this. So my question is: do you have to have a living trust along with a will to avoid probate?
Re: Wills and Trusts, do we need both?
The wisdom of attempting to avoid probate should be discussed with a qualified estate planning attorney in your community. Whether you should take steps to avoid probate should be considered carefully with this attorney.
If you choose to avoid probate (which I doubt you will if you are properly advised) then you may be using a revocable trust along with a Pour Over Will.
Bernard Greenberg
B.H. GREENBERG & ASSOCIATES
26 West Dry Creek Circle, Suite 520
Littleton, CO 80120