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I am thinking of redoing my Will but I wonder if a Trust is better (?)
Also, I did my own Will with Quicken software about 6 years ago. Has anyone on here done their own Trust instead of using a lawyer? If so, what software did you use and would you recommend it?
Thanks in advance. Just doing research online but wanted to use this forum as well to get opinions from others
it depends on the reasons. there are many different kinds of trusts for different purposes .
we have no use for a trust anymore now that our kids are grown . so we have just a will .
you need to consult an estate attorney . at one time we required a special trust called a disclaimer trust before ny raised it's pass through exclusion to the same as federal levels . that was for state tax purposes .
there are so many different trusts and reasons for them . as an example avoiding probate trusts work opposite medicaid planning trusts . they are totally opposite to each other
it depends on the reasons. there are many different kinds of trusts for different purposes .
we have no use for a trust anymore now that our kids are grown . so we have just a will .
you need to consult an estate attorney . at one time we required a special trust called a disclaimer trust before ny raised it's pass through exclusion to the same as federal levels . that was for state tax purposes .
there are so many different trusts and reasons for them . as an example avoiding probate trusts work opposite medicaid planning trusts . they are totally opposite to each other
Nope, I used a lawyer. there are some things I deemed way too important to leave up to my little brain. Now when my husband died my kids where still minors so I needed a trust to make sure they wouldn't blow my dough on a pole dancer named "cinnamon" . lol
now as they get older when I have my papers redone I'll have to reevaluate what is best but again it's not something I want to get wrong so I'll consulate an estate planning attorney.
lol, although for some reason my 22 year old is driving me nutz so I may just blow all of it on a pool boy. ***sighs***
Nope, I used a lawyer. there are some things I deemed way too important to leave up to my little brain. Now when my husband died my kids where still minors so I needed a trust to make sure they wouldn't blow my dough on a pole dancer named "cinnamon" . lol
now as they get older when I have my papers redone I'll have to reevaluate what is best but again it's not something I want to get wrong so I'll consulate an estate planning attorney.
lol, although for some reason my 22 year old is driving me nutz so I may just blow all of it on a pool boy. ***sighs***
nothing is ever a problem until it is a problem has never been truer than with wills and trusts .
unfortunately intent means nothing if verbiage is deemed missing or defective . many times states change forms too . ny instituted a whole new lengthier power of attorney form and is now a statutory form .
banks and brokerages no longer have to accept the older forms so it can be a problem .
we had a closing on a refinanced house stopped . the will said i leave my house and possessions to my child beth .
it failed to have the word "only" as in only child .
this stuff can be a minefield in action .
we only use the best estate attorney we can find for any documents . we already had 2 instances of major grief because of poor construction by general practitioners . these folks did not want to pay for a good estate attorney and it cost the heirs a load of money needlessly in the end .
any thought of doing one myself is not even an option anymore
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