Living Trust vs Will

[Phanuthier]

Another morbid thread/question, I'm looking into this stuff and just got caught up as to whats what here. Some websites say I should have a living trust, some say I can get away without it with proper paperwork. Some say I can get away with it without expensive fee's, others say its dangerous.

Thoughts? How much worse off am I than just using this?
http://www.nolo.com/products/online-...st-nntrus.html

Some personal info - married, no family but plans in the next half decade or so, own a average home with normal retirement savings and a bit of savings on the side. Basically your average schmuck.

[troutman]

That's for the USA.
*Estate planning documents not valid in Louisiana, U.S.Territories or Canada

In Alberta you just need a Will. There is no inheritance tax in Alberta so probate is not that big a deal.

[Phanuthier]

Yes, sorry I should note that I live in the USA.

[troutman]

I see. I'd recommend getting a lawyer to do it - probably less expensive than you realize.

Lawyers make more when documents are not properly drafted.

[Phanuthier]

Sigh... all roads seem to lead towards doing a living trust (expensive) instead of a will since I own property.

And I guess it looks like its not recommended to use the TurboTax version of Trusts either

any experiences that can point me in a direction, hopefully other then the one that costs lots of (sorry trout) lawyer fees?