Legal Question in Wills and Trusts in Nevada

Re: Living Trust vs. Will

A Will has to go through Probate. Therefore the Court supervises the distribution of property to the heirs. It usually requires the Executor to have an attorney get through the proceedings.

A living trust is a private document. The Successor Trustee, who is like the Executor, takes over the Trust and distributes property in accordance with the terms of the Trust to the heirs. This is not a Court supervised process although the Court can intervene if there is a problem or fraud. No Probate fees are connected with a Trust, however, the property must be put into the Trust before the death of the initial Trustee or you could still end up in Probate Court.

Re: Living Trust vs. Will

One further major difference is that a will cannot speak until you die. If you become mentally incapacitated or otherwise unable to speak for yourself while still alive, a living trust allows you to authorize the successor trustee to handle your affairs for you without the necessity of a court appointment. This can be a huge difference when you become aged, ill, injured or disabled in any way.