If I create a revocable living trust do I still need a will?
Typically when you have a revocable living trust you have a will which is called a pour over will. Which means any asset which isn’t in the name of your trust or isn’t allowed to be in the name of your trust, for example, an individual retirement account an IRA cannot be named in the name of the trust. If you don’t have a beneficiary of your IRA it’s going to pass through your will then and pour over into the trust. The pour over will is a complimentary document to your revocable living trust and should be utilized as part of that estate plan.