At some point, you may come to realize that your estate plan requires your attention. This often comes into play if you have reason to believe that a trust could benefit you and your family now and in the future.
The question of whether or not a trust is the right estate planning solution is never simple to answer. However, there are some questions you can mull over to make your life easier:
- What is the value of your estate at the present time?
- Do you have concerns about the future well being of a loved one with a disability?
- Do you have concerns that your heirs could argue over your assets upon your death?
- Do you have at least one life insurance policy?
- Are you going to leave some or all of your estate to charity?
- Do you want the majority of your assets to end up with your grandchildren upon your death?
Once you answer these types of questions, you can better determine if a trust is right for you. If it is, you can then address the type that makes the most sense.
At our law firm, we know the ins and outs of each type of trust. It’s our job to help our clients better understand the benefits and how to get started.
With so many different types of trust, it can be a challenge to decide which one is best for you. However, once you know your options and the legalities of this arrangement, you can make sound and confident decisions as to what you should do next.