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When it comes to protecting your loved ones, having both a will and a trust is essential. The difference between a will and a trust is when they kick into action. A will lays out your wishes for after you die. A living revocable trust becomes effective immediately.
Suze Orman shares everything you need to know about wills and trusts and the difference between a will and a trust.
A key difference between a will and a living revocable trust is that the living trust has an incapacity clause that states who you want to manage your affairs in the event you are unable to do so yourself.
Finance expert Suze Orman discusses the differences between a will and a trust and why both are important to have.
When you have a will, you can head off potential family squabbles (or worse) by clearly spelling out whom you want to inherit items that might not be in your trust — your home or car, for example, or even specific keepsakes such as your china or tool set.
Suze Orman's Must-Have Documents Online Program includes a will, revocable trust, financial power of attorney, and durable power of attorney for healthcare. Despite their unpopularity,...
The difference between a will and a trust is when they kick into action. A will lays out your wishes for after you die. A living revocable trust becomes effective immediately. While you...