Comparison of Wills & Revocable Living Trust

The following table demonstrates many of the differences between Wills and Revocable Living Trusts. For more information regarding your personal situation please contact Lena Barnett & Associates L.L.C.

Wills
Revocable Living Trusts
  • Can be used to plan for death tax.
  • Can be used to plan for death tax.
  • Lifetime income tax neutral.
  • Lifetime income tax neutral.
  • Are only effective at death.
  • Are effective immediately.
  • May not control all property.
  • One receptacle for your property.
  • Do not take care of you.
  • Take care of you.
  • Are public.
  • Offer privacy.
  • Involve complex legal rules.
  • Are easy to create and maintain.
  • Are hard to change.
  • Are easily changed.
  • Are not viable interstate.
  • Are good in every state.
  • Must go through probate.
  • Are probate free.
  • Should be stored properly.
  • Are easily stored.
  • Easy for disgruntled heirs to attack.
  • Are difficult to attack.
  • Stops affairs at death.
  • Offer continuity in your affairs.
  • Do not allow you to measure trustees while you are alive.
  • Allow you to measure trustees while you are alive.

This information was prepared by Lena Barnett & Associates, LLC and is intended only to provide general information. It is neither offered nor intended for use as legal advice, nor is it a substitute for a consultation with an attorney.

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