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Do I need a will if I have a living trust?

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Yes, you need a will even if you have a living trust.  A will provides back-up for any property that you failed to transfer into your trust before passing on, which can easily happen regarding newly acquired property.   To protect against this, a will allows you to name someone as the beneficiary to get property that you haven't left to a particular person or entity.  If you don't have a will, any property that isn't transferred by your living trust or jointly owned by someone else will go to your closest relatives in an order determined by state law.


Related Items Related Links
What is a living trust?
What is required in a will to make it legally binding?
Why should I consider setting up a trust?
 
KBID 442
Date Modified 8/13/2009
Date Created 8/13/2009
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