Wills

Wills

Wills

A will is a written instrument by which a person makes a disposition of his property, to take effect after his death, and which is subject to change or revocation during the person's lifetime.

In most cases, after death a will must be probated in order to be effectuated.  Probate is a court process which can be lengthy, costly and burdensome.  Therefore, most people prefer to use a revocable trust to dispose of their assets instead of a will.  A revocable trust permits the disposition of assets without any probate process, unless there are disputes.

In an estate plan with a revocable trust, wills are still prepared to cover any property that may not have been transferred to the revocable trust.