Wills, Trusts, & Probate

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We bet everyone has heard stories about costly and lengthy probate disasters, expensive trusts that were useless, and otherwise congenial families that became outrageously dysfunctional.

There’s no reason to give up control to a stranger or an estranged family member during life and even after disability or death.

Just a plain language explanation of the difference between a will and a trust, the various self directives and the applicable law, could avoid traumatic family splits. We all know “old” people who don’t have their affairs in order, but the sudden death or incapacity of a “not so old” person is even more tragic.
 

It is not uncommon to be uncomfortable thinking about and discussing Wills and Trusts, Living Wills, Health Care Surrogates, and Durable Powers of Attorney, but unless addressed, an opportunity to have intentions known and followed, is lost. No one wants someone else to spend their money and tell them what to do during disability and after death.

Often people ask about how much assets are necessary before they draw up a Trust. It is not how much someone has, it’s what they want done with their money that is the issue. How much do you know about the differences or similarities between Wills and Trusts? "Do I need a Trust or just a Will? In examining this question, consider both.