By Jeff Wagoner, W M Law President
Many times, I have clients show up for an initial consultation with the mindset that “I need a trust.” They are absolutely dead-set that they must have a trust of some sort. When I ask why they believe they need a trust, sometimes I get a very well-thought-out response and the client is correct – they DO need a trust.
However, more often than not, the client believes he or she needs a trust because somebody else has told them that they need a trust. Upon digging further, it is generally because either that other person has a trust or because someone in that other person’s family passed away and had a trust. Now, trusts are wonderful things – they can be used to do many things that a simple will cannot. And they are great for avoid probate. But I rarely recommend them.
Why don’t I recommend them often? Well, first off, I believe in the KISS principle – simple over complex any day in my book. I like to figure out what the simplest method is to accomplish a given goal, and oftentimes that means we can use a simple will along with some […]