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The honest answer is not much. Wills and trusts are basically the same thing. They both name beneficiaries for your assets and they both appoint someone to administer the document when you are gone. The difference between the two documents is therefore more about what we do with each one once it is signed.
In very broad terms, there are three categories of people that need a revocable living trust. They include the following: There are obviously more people who need a revocable living trust, but this seems to be the “big three” when it comes to myself and my law practice. Before I discuss each of these three…
