If I create a revocable living trust do I still need a will?

Video Transcription:

When you create a revocable living trust, that trust is only as good as the assets that you put into it during your lifetime. Every now and then clients forget that they have that shoebox full of series EE bonds or that CD that they setup 10 years ago or that timeshare. They forget to actually tell the estate planner about assets and those assets didn’t get transferred into the trust. That’s the job of the pour-over will. Any asset that, “Oops, I forgot to put into my revocable trust during my lifetime” pours through the last will and testament and through probate unfortunately and gets deposited into the revocable living trust. You need that last will and testament as a safety net document. Have more questions? Then contact us today to schedule a free consultation! Doane & Doane – Top rated Tax & Estate Planning Attorneys