Estate Planning | Making a Difference One Family at a Time

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do you need a will, living trust, image of someone explaining documents in an officeA revocable living trust can be the ideal centerpiece for your estate plan. But does having one mean you can skip creating a will altogether?

Let’s take a closer look at how these estate planning tools work together and what may be missing from your plan after you create your trust.

Living Trust Benefits

This type of trust gives you control during your life while facilitating a smooth transition after your passing. This is why they are so popular among people who have taken the time to consider the benefits.

What are these benefits? First, the successor trustee that you name can distribute the assets outside of probate when the time comes. This is a costly, time-consuming, and public process that is necessary if you use a will to transfer assets.

Secondly, you can include asset protection and spendthrift protections for the beneficiaries. Lastly, you can prepare for possible incapacity by empowering a disability trustee to manage the trust if necessary.

Do You Still Need a Will?

Even if you have a trust, you do need a will for a couple of important reasons, and it starts with child guardianship. If you have minor children, a will is the only way to name a guardian. Without a will that designates a guardian, the court will decide who takes on that responsibility.

Then there is the matter of personally held property that was never transferred to the trust. For example, you might acquire property after creating your trust and forget to retitle it. Or you may simply choose not to transfer certain personal items.

In these cases, a pour-over will can be invaluable. This type of will acts as a safety net, directing any remaining assets into your trust after your death.

It supports your trust-based plan by making sure everything ends up where it belongs, even if it wasn’t titled correctly during your lifetime.

Don’t Forget Your Living Will

A living will has nothing to do with financial matters. This document communicates your preferences regarding life-sustaining treatment if you are incapacitated and unable to speak for yourself.

It typically covers choices such as artificial hydration and nutrition, mechanical ventilation, and other life-sustaining efforts.

In Connecticut, many people create a living will alongside a health care proxy (also called an appointment of health care representative). These documents work together to ensure your voice is still heard, even in a medical crisis.

A living trust does not handle these matters. You need separate documents to give your family and doctors clear, legally valid instructions about your care.

Consider Including an Ethical Will

Beyond your legal documents, you might also want to create a personal one. An ethical will gives you the opportunity to pass down your values, life lessons, hopes, and stories. It isn’t enforceable in court, but it carries emotional weight.

Many people use ethical wills to explain their decisions, express love and gratitude, or share their family’s history. Others include reflections on hardships, resilience, or guiding beliefs. They are traditionally written as letters, but you can also use videos or voice messages.

An ethical will does not replace a legal document, but it can add depth and meaning to your plan. It helps your loved ones understand the “why” behind your decisions, especially if your choices were complex or unexpected.

Take the Next Step!

There is no reason to act on your own without legal guidance when there is so much at stake. When you work with our firm, you will go forward with a comprehensive plan that is custom-crafted to suit your specific needs.

We have a Westport, CT estate planning office, and another location in Glastonbury, and you can call us at 860-548-1000 to schedule a consultation at either office.

If you would rather send us a message, fill out our contact form, and we will be back in touch with you as soon as possible. We also invite you to join us at a Complimentary Seminar so you can see just how important it is to have a plan in place.

 

Jeffrey A. Nirenstein, Estate Planning Attorney
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