Maybe so, maybe not.  It is likely to have some effect, but it might not work the way you intend.  Wills are complex documents that should be prepared by an attorney -- and living trusts are even more complicated than wills.  Lawyers who do estate planning and probate work often are called on to fix, or try to administer, do-it-yourself living trusts which are deficient in one or more respects.  The cost of fixing or administering a deficient trust often exceeds the cost of having a proper, lawyer-prepared instrument.  It may sound self-serving for lawyers to say so, but self-help trusts and wills often do more harm than good.

Last updated on January 6, 2011 by Glenn Karisch