How Do I Know If a Will or Living Trust is Right For Me?

By this point in your life, you have probably been told at one point or another that having a will drawn up for yourself and your family is a very smart move. But, do you know what a will really is? On that note, what about a living trust? Both can be smart choices depending on your situation. Our estate planning attorneys at the Lake of the Ozarks are here to give you the differences between a will and a living trust so you can make a better decision for yourself and your family. For a free consultation with our Camden County estate planning attorneys, call Phillips, McElyea, Carpenter, and Welch today for your free consultation. Our Camdenton Law Office can be reached at (573) 346-7231.


A Will
  • If you have a will in place, you will be able to use the document to assign an individual to take over your role as guardian in the event of your passing.
  • Wills allow you to designate beneficiaries for your property.
  • If you are leaving property to a minor using a will, you should designate an adult to manage the property until the child turns eighteen.
  • Wills allow you to name an individual to act as executor of your estate after you pass.
  • Wills are public legal documents; after you pass, if probated, it will be publicly available.
A Living Trust
  • Living trusts also allow you to designate beneficiaries for your property and allow you to transfer your assets without going through the probate court.
  • If you are leaving property to a minor using a trust, the trustee will automatically manage the property until the time set forth in the trust agreement.
  • Living trusts require you to appoint a trustee. Trustees manage your assets as directed in the trust agreement. If you create both a will and a living trust, you may appoint the same person to serve as your executor and your trustee.
  • Living trusts are private agreements; after you pass, your affairs will be handled privately.


It's really important that you know all your options when forming your estate plan and that you get all your questions answered. That is where an experienced Lake of the Ozarks estate planning attorney comes in. Phillips, McElyea, Carpenter, and Welch is here to answer any questions you may have. Just give us a call for your free consultation today.

Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
The choice of a lawyer is an important decision and should not be based solely on advertising. When you need a knowledgeable attorney, we invite you to contact us to set up a consultation. 

We accept Visa, MasterCard, and Discover.
109 East Highway 54, Suite 103
Camdenton, Missouri
(573) 346-7231 - Telephone
(888) 236-2485 - Toll-Free
(573) 346-4411 - Fax

Location: Camdenton, MO 65020, USA

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