Archive for July, 2014

Should You Choose a Will or a Trust?

  • July 29th, 2014
  • Katherine Becker
Should You Choose a Will or a Trust?

A will might be right for you if: You are single; You have assets under $150,000 and are not anticipating accumulating more; You have children, but no significant assets and do not own real property; None of your beneficiaries have special needs or receive public benefits. However, you must be aware that a will, standing alone, will need to be probated via the court system. All wills must be either 100% handwritten, signed and dated, or typed, dated, signed and witnessed by two “disinterested witnesses.”

Living Trusts for Single People

  • July 15th, 2014
  • Katherine Becker
Living Trusts for Single People

I’m not married…do I need a trust? You should answer this question by first asking yourself a few other questions: If you should become incapacitated, do you want to have a system in place for a person that you select to manage your assets and to use them to support you for the rest of your life, without court intervention? In the event of your death, do you want to have a system in place to select your beneficiaries, avoid probate and avoid conflicts in your family? Do you want a system that allows you to easily make changes in your estate plan if circumstances change? If you answered yes to any of these questions, then a revocable living trust is your best choice for planning your estate.