A Will or a Trust?
Very often people do not know whether they need a Will or a Trust. The answer is usually: both. Most people are familiar with what a Will is. It’s a simple document, handwritten or printed on fancy paper, that says who will inherit what you own after you die. If you have children under the age of eighteen, a Will is where you may nominate the people you would like to take care of your children as Guardians appointed by a Judge, if you die before the children are adults. That’s it. A Will does nothing to address a myriad of issues and needs if you ever become incapacitated due to illness,...
Read MoreFunny what some people think about estate planning.
Ask your average person on the street about any number of topics—baseball stats, the latest scandal news running on CNN, where to buy a good lawn mower, whatever—and you’ll probably get an earful of mostly accurate information. Ask the average person what he or she knows about estate planning and you might get some real doozies of misinformation. I think that’s because estate planning is about getting old, death, family and finances—and that’s a combination a lot of people would rather not think about. I am continually amazed by some of the things new clients tell me when it comes to estate...
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