Ask Terry Questions Living Trust

Living Trust

By Terry Savage on May 26, 2026 | Financial Planning / Retirement

My home is my only big asset,we have a living will should we also get a living trust. We are both 79 yrs old.

Terry Says

They are completely different things. Please watch this video I made to explain how a Revocable Living Trust works:
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4

You should speak to an estate planning attorney to at least make some provisions for your assets if one or both of you dies, or becomes incapacitated.

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