Do You Need a Trust? – Perhaps to Your Surprise, the Answer Is Probably ‘Yes’
December 1, 2010
Clients often ask why they need a trust and not just a traditional last will and testament. Many are single, have only a young child or no assets. Most people assume that revocable living trusts are just for the wealthy, but the benefits that they can offer to the average person are significant.
If you fall into one of the following categories, you can get great benefits from a revocable trust:
- You are single
- You have minor children or minor beneficiaries
- You need to plan for an individual with a special need
- You are remarrying and blending families
- Your estate is potentially taxable
- You want to avoid probate
If any of the above apply to you, a trust may be a wise planning tool.
You may read more at the link below.