Wills v. Trusts

Pop Quiz: For which of the following circumstances should a Trust be used rather than a Will?

• You are single and have no children
• You are an entrepreneur or business owner
• You own rental property
• You have children by previous marriages
• You have family members suffering from addiction
• You travel internationally or have children living abroad

The answer is:

A trust would be better for ALL of these circumstances! Unlike wills, trusts are effective while the client is alive. So the client is always in control. Here are some other life circumstances which would benefit from a trust:

• You engage in a high liability business
• You plan to do charitable giving
• You have a family with special needs
• You are contemplating a marriage or a civil union
• You own out-of-state property
• You and/or your spouse have health problems
• Your children have divorce, creditor or other predator problems
• You have a large or extended family
• You engage in high risk sports
• You are an older parent of very young children
• You will be retiring soon and/or need to roll over a 401K or other distribution
• You own annuities
• You need to provide for aging or ailing parents
• You have adult disabled children
• You desire to create educational funding opportunities for younger family members
• You have underage children
• You wish to preserve a non-financial legacy to leave your family
• You want to protect overly generous family members from being preyed upon

Contact our office to learn more about the benefits of a trust for your particular situation!