![]() ![]() Once the assets are placed into the Trust, the Trust takes over ownership of said assets. Revocable Living Trust – Once a Revocable Living Trust document is executed by a principal, it becomes a legal entity into which assets can be placed. Signing Requirements ( § 31-3.3) – A Will is only valid if signed by the principal and at least two (2) witnesses.After the testator’s death, the Will must be reviewed by members of probate court to ensure its validity and authenticity. ![]() A Will also covers provisions regarding taxes, debts, and guardianship for the testator’s children. Beneficiaries are named in the Will so that the executor knows who will get what. Last Will and Testament – A legal document executed by a principal (referred to as a testator) that names an executor to distribute their estate after they die. Each document covers slightly different areas of the principal’s estate, therefore it is recommended that an attorney be consulted to see which tool would be most appropriate. The two (2) main estate planning documents are Wills and Trusts. ![]() ![]()
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