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ARE WILLS AND TRUSTS MUTUALLY EXCLUSIVE?

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ARE WILLS AND TRUSTS MUTUALLY EXCLUSIVE?

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No! If you have a Living Trust, you should also have a “Pour-over Will” that “pours over” all of your estate into your Living Trust, and complies with and reinforces the terms of your Living Trust. If you have only a Will, you can set up a “Testamentary Trust” (which comes into existence upon your death) for management of your beneficiaries’ inheritance.

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