Your Last Will
Your Living Trust will be your primary estate-planning document, but you still need a Last Will to take care of three things:
- The Will says all your assets should be added to the Living Trust and distributed according to its terms. Should you forget to put an asset into the Trust, your Will also provides a way to move it into the Trust after death.
- If you want to give instructions about specific personal property (e.g., your watch goes to your oldest son, or your family silver goes to your daughters equally), your Will is the place to do that.
- If you have minor children, you need to designate guardians to take care of them until they’re grown. Guardian designations should be done in your Will.