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Hooper Law Office,LLC Estate Planning Blog

Monday, February 23, 2015

Should I plan with a trust?

To determine if a trust is right for you, simply ask yourself the following questions:

  • Do you want your family to pay the expenses of probate, which are often between 3% and 8% of the gross value of an estate (up to $8,000 for a $100,000 estate)?
  • Do you want the publicity involved in a probate where anyone can see what your beneficiaries inherit?
  • Do you want your family to suffer the delays of the probate process?
  • Do you want a judge to be in charge of settling your estate instead of the Trustee you choose?
  • Do you want your money frozen by the court following your death?
  • Do you want your family to go through a probate in each state where you own real estate?
  • Do you want intrusive guardianship court proceedings if you become incapacitated?
  • Do you want a will contest to take place when you can't defend your actions?

If you answered "No" to any of these questions, then planning with a trust is right for you.

We believe the advantages of a revocable living trust far outweigh the disadvantages.

A well-drafted trust is clearly one of the most beneficial estate planning opportunities available today.  By maintaining control over your estate plan, you can decide for yourself the best use of your property and how to benefit and protect yourself and your family.


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