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Hello Fools!

I'm trying to help my parents decide between setting up a living trust vs. a will.

My Mom has heard that living trusts are good, but my father has heard that they are only good if you have a lot of money. He also has heard that living trusts are expensive to set up, and that you have to sell all of your possessions to the living trust. So as an example, my father would no longer own the house, the living trust would.

Could anyone refer me to a web site that may discuss the differences or pros and cons, or give me advise based on their own experience?

Thank you!

Ed Ribar
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