Category — Living Trust

Living Trust Vs Will is a common question that many ask when they are in the midst of preparing their wills. Both Living Trust and a Will are documents to give instructions how to handle your affairs when you pass on. The similarities end here. A living trust is like a vault, where you transfer assets in and have control over the assets, even if you are no longer around.

While most people know the purpose of a Will, many have the impression that a Living Trust is only for people who are wealthy. Although the wealthy do create Living Trust, it does not mean only the rich can do so. This is a common misconception. With inflation and dollar value of assets increasing, it is quite common for people to have asset touching 6 figures and this is where a living trust becomes practical. [Read more →]