Video Summary
If I have a living trust, should I have a will answer? The question is yes, those are called Pour- Over wills, meaning that your will says I leave whatever assets that I may have that are just titled in. I name to the trustee of my trust, the trust, then the trustee designates who the beneficiaries are, what I have found over my career that sometimes trust are set up and are fine and dandy. They designate who all the beneficiaries are, but for whatever reason, the assets of the decedent are not titled into the name of the trustee. And so there must be a probate proceeding to have the assets transferred to the trustee so they can be distributed to the beneficiaries. So without a will leaving it to the trust, well then the assets would pass to the children or the heirs of the decedent, which is probably not the same as the testament scheme or who you wanted to receive these assets as, as a result of executing a trust. So that is a real good reason to have a will. That leaves everything to the trustee and your trust upon your death in the event. So that any assets that you have in your name alone will go to your trustee to be distributed to your designated beneficiaries. If you have any questions, give me a call at (727) 847-2288.