Do I Need a Will and a Trust?

This depends on your assets and your goals. While you should have a will, a living trust requires that you transfer assets to a trustee while you are living, and this person can be yourself. Even if you have a living trust, you should have a will to cover the assets that are not placed in your trust. It is best to speak with a lawyer if you have specific wishes for your property when you die or have a complicated estate. Consulting with a professional is the best way to help you decide whether to place assets in a trust and, if so, what kind of property can be placed in a trust.