Frequently Asked Questions (FAQs) About Estate Planning What is a Living Trust and how does it differ from a Will? What are the advantages of a Living Trust? What is Probate? What is the purpose behind the probate process? When is probate necessary? Are there any advantages to probate? What are the disadvantages of probate? Are life insurance policies and retirement benefits subject to probate? What is joint tenancy? Is it true you don’t need an estate plan if you hold title in joint tenancy? Will my beneficiaries have to pay estate taxes when I die? What is included in my estate? Share This Page: