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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 22569
Experience:  14 yrs estate law, real estate. Wills/Trusts/Probate
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What is the advantage of a living trust? I have one, and my

Resolved Question:

What is the advantage of a living trust?
I have one, and my will seems to be incorporated in it. How can I make changes to the latter?
Submitted: 9 months ago.
Category: Estate Law
Expert:  Barrister replied 9 months ago.
Hello and welcome! My name is XXXXX XXXXX X will try my level best to help with your situation or get you to someone who can.
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A living trust is typically drafted so that the grantor (maker) of the trust is able to avoid having their assets go through probate when they pass. The other big reason is confidentiality. Trusts are completely confidential so no one can find out who the grantor left their assets to.
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It sounds like you might have a "pour over will" which basically states that any assets in your name when you pass "pour over" into the trust for disposition according to the terms of the trust.
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If you wanted to amend the will associated with the trust, then you could either have it re-drafted or you could have an amendment drafted called a "codicil". Codicil is just a legal term for amendment. The codicil is drafted with all the same formalities as the original will (i.e. signed, witnessed, notarized, etc.) in order for it to be legal. But both the will and the trust can be changed at any time as long as it is a revocable living trust.
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Thanks
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 22569
Experience: 14 yrs estate law, real estate. Wills/Trusts/Probate
Barrister and other Estate Law Specialists are ready to help you

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