Should you have a Will or Trust in your plan?
Hi, I’m Gary DeWitt. I own DeWitt Law Firm where I do estate planning and probate.
Deciding between a will and trust comes down to your circumstances. I can provide some guidance.
When should you consider a trust?
- You have children under 18
- You have special needs children (or grandchildren)
- Your children have an addiction to drugs, alcohol, or gambling
- Your children have credit issues
- You own real estate in multiple states
- Your children have marital issues
- You have a blended family and want to avoid as many issue as possible
- Do you want to put rules on the inheritance?
- You want to avoid the publicity of probate
If you don’t have one of those things going on, you may be able to get away with a Will and some additional planning. I have a lot of tools available that can be used to plan to prevent probate.
Just to summarize, the decision between a will and trust comes down to your unique circumstances, but there are guidelines when to use one or the other.
Your next step is to schedule your free meeting. At your meeting we’ll discuss your unique goals and come up with a blueprint to protect and preserve your family’s wealth. Visit planwithgary.com to setup your free meeting. That’s planwithgary.com
Thanks for watching today.