What are the main differences between a will and a living trust?
A will does not take effect until your death. A living trust is a manner of transferring property that is effective immediately. When you die and your estate enters probate administration, the court will oversee how your property is transferred. When you create a living trust, there are administrative steps you have to take while living in order to transfer your property into your trust. With a will, once you create your will and properly sign it, you will normally not have any need to take any more steps to ensure your wishes are carried out at your death.
