Watch CBS News

Legal Q&A: Trust or Will?

Question: "Do I need a Trust or a Will?"

Answer: Everyone should have a will, but not everyone needs a trust. Even if you have a trust, you should have a will in order to transfer assets from your personal estate upon death to your trust. This happens when an asset is purposely or unintentionally left out of the trust and is discovered after the death of a grantor of the trust. When that happens, the will needs to be probated so that the asset can be transferred to the trust. When a person has a trust, the associated will is often referred to as a "pour over will" since the will is intended to pour any assets outside of the trust into the trust.

If you have additional questions, you may want to talk with an attorney at Michael Hodes, LLC (410) 769-8002 about this matter.

Or click here for more info: www.michaelhodes.com

Above content provided by Michael Hodes, LLC. For advice about legal issues, consult a licensed Attorney.

View CBS News In
CBS News App Open
Chrome Safari Continue
Be the first to know
Get browser notifications for breaking news, live events, and exclusive reporting.