Do you still need a will if you have a Irrevocable living trust in which all of your assets are under?

Asked over 1 year ago - Columbus, OH

I have a living trust where all my assets are in my living trust name.

Attorney answers (5)

  1. James Bart Leonardi

    Contributor Level 11

    10

    Lawyers agree

    Answered . I agree with the other two lawyers. It sounds like you have a revocable living trust. It sounds like you need to have an entire estate plan designed for you to make sure you have the documents that actually will achieve your goals.

    Any response given to a question is not intended to create an attorney/client relationship between this lawyer or... more
  2. Charles Adam Shultz

    Contributor Level 19

    9

    Lawyers agree

    Answered . I think you meant revocable living trust not irrevocable. That said, you absolutely should have a will as a back up.

    Now, your question leads me to believe you did the trust on your own. You would be wise to meet with an estate planning and make sure you have everything covered correctly.

    The general advice above does not constitute an attorney-client relationship: you haven't hired me or my firm or... more
  3. Joseph Michael Pankowski Jr

    Contributor Level 18

    9

    Lawyers agree

    Answered . Attorney Shultz is correct. A do-it-yourself estate plan, especially when using a trust, may not accomplish your goals. Most importantly, since internet-produced provisions tend to be vague, instead of enjoying their inheritance after your death, your beneficiaries may be lawyering-up. Do yourself a favor and retain an experienced estate planning lawyer to review this matter, update your documents, and make sure your newly revised living trust is, in-fact, fully funded. Good luck to you.

    This information is presented as a public service. It should not be construed to be formal legal advice nor... more
  4. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    8

    Lawyers agree

    1

    Answered . Everyone needs a will with any type trust.
    The will covers anything that is not placed in the trust
    plus personal effects.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more
  5. William Thomas Schemmel

    Contributor Level 11

    6

    Lawyers agree

    Answered . It's always a good idea to have a will which will serve as a conduit to get everything into the trust that did not get properly placed in the trust during life. There are almost always some assets that do not make it into the trust. It is not a good idea to go it alone on these important documents. An attorney can ensure that you have the right documents and plan in place when it is needed. This information is subject to the disclaimer below.

    This is general information based upon limited facts, should not be construed as legal advice, and does not create... more

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