February 2025 Q: Do I need a trust? I’ve heard that I need one to avoid “probate.” What is “probate”? A: There are many reasons to use a trust, but you shouldn’t need to pay the fees for a trust just to avoid probate, the legal system that gets dead people’s stuff to...
January 2024. Q: I need a trust so my kids don’t have to pay a boatload of taxes. A: Actually, a trust doesn’t avoid taxes. In fact, a trust might actually increase the taxes due if your estate plan is not correctly set up. For example, if your IRA or 401(k) pays to...
October 2023. Q: I have a disabled daughter. Do I really need a trust? Can’t I just leave everything to my son to use for his sister? A: Yes, you can do that, but I’m not sure you should do that. If you leave everything to your son to use for his sister without any...
September 2023. Q: Do I need a trust? A: A trust is a bucket to hold money, for someone – a “beneficiary” – that needs the money but can’t have it in their own name. The classic beneficiary is a young child, someone with special needs, or someone consistently making...
October 2022. Q: Don’t I need a will to avoid probate? A: Thanks for asking! But wills don’t avoid probate; they CONTROL probate. Anything just in your name when you die, that doesn’t have a living joint owner or beneficiary, passes through probate. Probate is the...
