Aside from health, forming a trust will help your kids, or whoever you leave your stuff to, deal with financial complexities in a stressful time.
They can protect your assets from the government and you can help your kids protect the assets they inherit from people they marry, among others, who might not be good people.
I’m the resident dr whisperer, which fine and am honored to have earned that trust. I will make sure what is wanted is what will happen, but the financial stuff is mostly on autopilot.
But be careful of the executers of that trust. I know of one where the executer has decided that he is the owner of the properties left with the other owners not allowed a vote. This is current and got nasty.
That is myself and my siblings and thankfully, we all mostly get along. Everything is written out, so no one can take advantage of anyone else. There is enough going on when someone dies and I couldn’t imagine having to navigate the financial stuff along with everything else.
My wife and I are going to use a professional to be executor of our trust. We’ve seen several families torn apart by fights over inheritances.
Subject is much on my so-called mind of late.
It is a bit morbid and depressing to deal with but whatever you organize now will make it easier on your loved ones later. Hope your thing went well.
Aside from health, forming a trust will help your kids, or whoever you leave your stuff to, deal with financial complexities in a stressful time.
They can protect your assets from the government and you can help your kids protect the assets they inherit from people they marry, among others, who might not be good people.
I’m the resident dr whisperer, which fine and am honored to have earned that trust. I will make sure what is wanted is what will happen, but the financial stuff is mostly on autopilot.
But be careful of the executers of that trust. I know of one where the executer has decided that he is the owner of the properties left with the other owners not allowed a vote. This is current and got nasty.
That is myself and my siblings and thankfully, we all mostly get along. Everything is written out, so no one can take advantage of anyone else. There is enough going on when someone dies and I couldn’t imagine having to navigate the financial stuff along with everything else.
My wife and I are going to use a professional to be executor of our trust. We’ve seen several families torn apart by fights over inheritances.
Subject is much on my so-called mind of late.
It is a bit morbid and depressing to deal with but whatever you organize now will make it easier on your loved ones later. Hope your thing went well.