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Some of the main advantages of using a revocable living trust instead of a will for estate planning is that a revocable living trust does not have to go through probate, which can alleviate privacy concerns, and it is pr... More »

www.reference.com Business & Finance Financial Planning

In estate planning, wills and trusts are both essential tools for carrying out an individual's final wishes, but one is not a replacement for the other. Everyone should have a will drafted before they die, even those who... More »

www.reference.com Business & Finance Financial Planning

A living will only outlines end-of-life health care decisions such as use of life support and organ donation. On the other hand, a living trust is strictly related to the distribution of an estate. More »

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The disadvantages of a revocable living trust include the expense of setting up the trust, the difficulty in transferring assets into the trust, and the fact that a will is still needed to supplement it, states About.com... More »

Benefits of a revocable living trust include privacy in estate planning, the possibility of planning for mental disability and other incapacitating circumstances, and the avoidance of probate, states About.com. Revocable... More »

www.reference.com Business & Finance Financial Planning

A revocable living trust is an estate planning tool that is used to avoid probate and decide how a property is split up after the owner's death. It can be changed later by the person who set it up, as long as he is still... More »

www.reference.com Business & Finance Financial Planning

Some of the advantages of a living trust are being able to avoid probate and being able to name alternate beneficiaries to inherit property, says Nolo. Disadvantages of living trusts include the time they take to draw up... More »