Ask Terry Questions Estate planning

Estate planning

By Terry Savage on November 12, 2022 | Financial Planning / Retirement

My husband and I have wills. If we create revocable living trusts will the trusts automatically supersede the wills?

Terry Says

The trusts (or a joint family trust) will replace the wills. A RLT is a much more effective document. You put all your post-death instructions into it — same things you say in your will — but if one of you is incapacitated (think stroke, Alszheimers, etc) the other trustee has immediate power to act. A will doesn’t go into effect until someone dies!!
Please take a few minutes and watch this video:
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4

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