Do you have an estate plan? A will? A trust?
You should. Without creating one, you could be subjecting loved ones to headache upon headache should something happen to you.
There are various levels of estate planning. A will, durable power of attorney, trusts, etc. Work with an attorney well versed in these areas (call me for a referral).
I'm in the process of creating a trust. Our life insurance beneficiaries will be changed to the trust. Creating a trust will avoid probate for my family and to take advantage of estate tax exemptions if available AND the biggest factor to me right now.... I have younger children. A trust can delay fund distributions until the age I deem appropriate. Not many 15 years are ready to manage an inheritence, in my mind.
Is it expensive to create a trust? Well, there is a big difference between cost and value. Creating a trust is something I valued and found the money to pay for.
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