"What is best for myself or my family, a will or living trust?"
This is a question that cannot be answered within this site. A complete fact finder needs to be completed and referred to our attorney.
In general though, there are many ways to a leave a mess for beneficiaries and heirs.
- Having old and outdated wills or trusts.
Attorneys have said to have powers of attorney updated every 5 years.
- Having a child's name on accounts or deeds.
People think this is an inexpensive way to avoid establishing a revocable living trust, but in fact this can come back to possibly haunt the parents and children.
- Not understanding trusts.
The whole reason to establishing a trust is to avoid probate, and to allow assets to pass to beneficiaries without the need of attorneys or court costs. If you die with a will, it is possible 8-10% of your estate will go to attorneys' and courts.
If you have any questions we can, with the help of our certified document preparer, help you determine what may be best for you.