A GUIDE TO LIVING TRUSTSI HAVE A WILL. ISN'T THAT ENOUGH?
Although a will is a necessary part of any estate plan, it may not be enough. The probate court must become involved in the process of administering your will. Many people do not want their financial affairs to become a matter of public record, which is part of the probate process.
A will is only effective following your death. If you become mentally or physically incapacitated, your will provides no protection. You may be forced to submit to the control of the probate court while you are alive. This is because it may be necessary to appoint a legal guardian for you.
© 2011 Joseph M. Lucas & Associates, L.L.C.