When you have worked hard to earn and save money throughout your life it is natural to want to make sure you have control of your assets after you die. Even if you have lived as a person of modest means, you still have an estate. An important thing to ask yourself is, “Do I have the proper plan in place for the distribution of my assets after I die?”
Figuring out what that plan is will depend on your personal circumstances. For many people, a living trust is the most useful and practical. However, for some people a will is all they need. What is the difference between the two? Here is a breakdown of each.