A revocable trust is an estate planning tool and a will; also known as a last will or living will, are tools to help you decide whom your assets will go to after your death, as well as help with any health care decisions that need to be made. It is important to know the difference between both a Mesa revocable trust and a Mesa will and what they actually entail. Here are a few guidelines about what each of them include.

 

Revocable Trust

  1. A revocable trust helps you decide who will get your property when you die.
  2. It’s a trust that can be amended or revoked completely by the person who created the Mesa revocable trust. This means that at any time you can change the beneficiaries listed.
  3. There are three main people involved in a revocable trust and they are a settlor, trustee, and the beneficiary or beneficiaries.
  4. By creating a Mesa revocable trust you are creating a document that is completely private and only you and the people involved will know what is included in the trust, as well what the beneficiary or beneficiaries will receive after your death.
  5. Having a revocable trust can actually help you avoid probate, which will help avoid any delays in the beneficiary receiving your assets.

Will

  1. A lot of people get a living will and a last will confused. A Mesa living will is setup for when you happen to be in a comma or vegetative state and cannot communicate with others about your health care and health care decisions.
  2. Some medical decisions that could arise are if you need a feeding tube, would you want it or deny it, if you could no longer feed yourself, or if you cannot breathe on your own, would you like to be placed on a ventilator?
  3. A Mesa last will actually has nothing to do with your health care, it deals with your assets and estate. On this document you will list whom you want your property to go to and whom you want your money to go to.
  4. You can even list that you would like your money to go to a charity or to your grandkids when they reach a certain age.

 

Need Help?

If you are not sure as to what legal document you currently have contact one of our professionals to help you with your planning needs. They will make sure you have all of your grounds covered and have the right legal documents that best suite your wants and needs.

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