CHAPTER 26
Trust Me 쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆쏆
“Money never changes, only pockets.”
Do I Need to Read This Chapter? ●
Do I know that trusts can help avoid probate and transfer my assets immediately to my heirs?
●
Am I aware that trusts are an excellent way to protect my wishes in complicated estates involving second marriages and blended families?
●
Do I own real estate in more than one state? If so, do I realize that I should have a living trust to cover it?
●
If I’m interested in trusts, have I also considered their drawbacks?
●
Have I considered other vehicles for estate planning?
●
If I’m trying to shelter assets from nursing home seizure, am I aware of the role (both good and bad) of irrevocable trusts?
●
Am I clear on the changes in Medicaid rules?
Are There Alternatives to Having a Will? will and a trust are both legal documents that transfer your assets to your designated heirs upon your death. For each, a person is appointed to distribute your assets. The person who distributes your assets in a will is the executor, and in a trust it is the trustee. But that’s where the similarity ends.
A
225 Copyright © 2008, 1998, 1994, 1991, 1988, 1986 by Joel Lerner. Click here for terms of use.
