Will or living trust?

[eerdem]

I'm trying to figure out if I should have a will or living trust: All I want is this; after my death, all property (house, car, stocks, etc) that belongs to me to be sold, combined with the cash that I have in my bank accounts and all the cash gathered to be sent to my nephew who is not US citizen and who doesn't live in the US. Can I have a living trust for this? Or should I go with a will? I like the option of avoiding probate with a living trust but I'm not sure if I can even have a living trust for what I want to do. Any help would be appreciated, thanks!!What is the name of your state (only U.S. law)?

 

[curb1]

Do you have someone whom you trust to be the trustee? Or, would you consider an institution? The trust would be very fast, and simple. Do you have debts, or anything that would be messy?

 

[eerdem]

I have someone that I trust. No debts, nothing messy. It's very straightforward. I'd like everything to be sold and the cash coming from it to be sent to my nephew who is not a US citizen.

 

[FlyingRon]

Trust sounds like the answer to you. You should get a lawyer familiar with such to create it (with the specific instructions you want). It can be revocable now (meaning if you change your mind, or you need to sell the assets, you are in control). Once you die, it becomes irrevocable (set in stone) and the trustee (be it friend you trust, or a lawyer or banker) can perform the steps necessary to achieve your goals.

Note, for this to work, you must make sure the trust owns the assets to be distributed.