No one wants to think about what happens after death, but it's important to start making plans for your loved ones now. You don't have children, but you do have a faithful pet who has been your companion and loved you for years. What happens if you pass away without a plan in place for him? He has no home or person to take care of him.
Many of us have thought about protecting our loved ones in the awful event of becoming severely incapacitated or dying. You may have thought about various aspects of estate planning such as protecting property for certain family members, the management of that property or reducing the associated tax burden. Two common tools that are associated with estate planning are a will and a living trust. Even if you're in your 30s, and especially if you have a family, you may want to create a will or a living trust to give you piece of mind. What are some of the key differences between these two devices?