This is a YouTube video titled "What if I have a will, do I need a trust?" featuring Mel Abraham explaining the differences between a will and a trust, the probate process, and the benefits of having a trust to avoid probate. The content is educational and focuses on estate planning concepts.
If I have a will, do I need a trust? The will will not operate until you die. However, a trust becomes enforceable when the ink dries. Without a trust, you will likely, depending on your state, be subject to something to called a probate process. That probate process is a court process to review the assets in the will to make sure that the transfer of those assets is legal and proper, based on the appropriate legal standing of the assets, and that the assets go to the proper owner. Which also means that there's costs, there's delays, and it is public record. If you don't have a trust and you die just with a will, in all likelihood you will have probate. However, with a trust, I avoid probate as long as the trust is funded.
