A “Will” is a Legal declaration of your decisions as to how your Property and Estate are to be handled after your passing. A Will is an absolute necessity for parents with minor children in order for them to name a Guardian.
Upon passing, the Will is presented to a Court in the process called Probate. This process usually takes more than a year at considerable expense. People are now using a Living Trust to avoid the unnecessary time and expense of Probate.
Every Living Trust should be backed up by a Will to handle any Property that was not transferred into your Living Trust. A Will used together with a Living Trust is called a “Pour-over” Will because the Will pours such Property into your Living Trust at your passing.