Do I need a will or a living trust?

Answer On One Hand: Benefits of a Living TrustThe primary advantage of a living trust over a will is that a will must go through probate court, which can often be time consuming and expensive. A living tr... Read More »

Top Q&A For: Do I need a will or a living trust

Does a living trust need an EIN?

Like all trusts apart from revocable, granter-owned trusts, a living trust requires a federal employer identification number, or EIN, according to the Internal Revenue Service. A nine-digit number,... Read More »

Do I need to file a 1041 for a living trust?

On One Hand: Only Three Requirements For Form 1041There are only three requirements for form 1041 to be filed. First, if the trust had any taxable income during the year (no matter what the amount... Read More »

What is a living will trust?

A living will trust is a legal document that is a popular alternative to a regular will. The trust allows the management of a person's assets both before and after his death.FunctionA living will t... Read More »

At what asset level do you need a living trust?

On One Hand: Asset Level is Not The Determining FactorThe main goal of an estate plan is to accomplish the objectives of the individual. No minimum asset level is required to benefit from a living ... Read More »