In no order of importance, here are 7 signs you need a trust:
- You have children with addictions to drugs, alcohol, spending, gambling, etc.
2. You have children or a spouse that is a poor money manager or has credit problems
3. You have real estate in multiple states
4. You want the best chance at avoiding probate
5. You have children with marital issues
6. You have children with special needs
7. You have children under 18 years old
These aren’t all the reasons to have a trust but are some of the big reasons to have a trust.
And, if you don’t meet any of these criteria, it doesn’t mean you don’t need a plan, but we may be able to do it other ways without a trust.