Do You Really Need a Trust ?

Unfortunately, there are a lot of attorneys who will convince clients that they need to spend money creating a living trust, to avoid the expense of Probate, simply because it means money for the attorney. Even worse, few attorneys know how to properly structure and fund a Trust. So not only do people end up with something they do not need, they end up with something that isn’t worth the paper it is written on. In most cases we end up advising a client that a Trust is an unnecessary expense based on the fact that what they are hoping to accomplish through a Trust can be accomplished through other much simpler and cheaper means. Additionally, you need to consider the expense of a trust, which you have to pay for now, compared the expense of Probate, which is paid for after you’ve spent everything you can and have passed on. Be wary of any attorney who immediately tells you that you need a trust if they have not taken the time to ask what your goals are and discuss alternatives with you.