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Do you have a trust?

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  • Tim
    replied
    We got rid of the revocable trust, life insurance trust and wills. Facts changed.
    Replaced with extremely simple wills. Everything to spouse and then split 50/50 to the kids.

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  • dennis
    replied
    We have both revocable and irrevocable trusts. You didn't allow that option. We've had them long enough I don't remember the cost but I suspect a few $K

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  • Larry Ragman
    replied
    My wife and I have wills that are quite old and need to be updated because they create trusts and have guardians for the (now adult) children. The updates should be more straight-forward that the old wills, but we will probably also create a revocable living trust for the rental properties in preparation for owning them out of state since we plan to move when I retire. A trust helps in that scenario to avoid probate in two states.
    Quoted price from lawyer for two wills and one trust $1000. I can do it with Nolo software for no additional cost over the software, which I bought for $50. However, my wife won't trust them.

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  • AR
    replied
    Isn't it state dependent? My understanding is that in some states it does you little to no good.

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  • G
    replied
    "living trust" has literally been on my to-do list for almost a decade now....

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  • Peds
    replied
    dont have either.

    one should if you buy a house or have children.

    good book to start: living trusts for everyone by sharp.

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  • Shant
    replied
    I have a will that will create a trust upon death. Some of the beneficiaries are pretty self-destructive on the money front. I piggybacked off another family member, her cost was $5k flat fee.

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  • childay
    started a poll Do you have a trust?

    Do you have a trust?

    44
    I have a revocable living trust +/- will
    40.91%
    18
    I have an irrevocable trust +/- will
    0%
    0
    I have a will only
    27.27%
    12
    I don't have any of those crazy things
    31.82%
    14
    How much did it cost to do whatever you have?
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