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Do I Need a Trust?

Written by: Michael Gary Perdue

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Estate Planning

Posted almost 3 years ago. Applies to California, 1 helpful vote, 0 comments

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Avoiding Probate

Avoiding Probate remains as a primary reason for having a trust. Although in recent years the amount of property a person can have and not go through a full blown probate is now $100,000.00 (including real property), if that amount includes real property, a court proceeding is still necessary.

Decsion Control

Who will care for you when you are unable? Will it be the person you trust, or will it be the one you dread? Will it be the thrifty child or the spend thrift? A trust allows you to decide. Without a trust, you are left to the whims of chance, which is usually the first person who shows up with a petition to the court.

Saving Money

Although a trust costs more up front, in the long run it saves thousands more than it costs when it is properly funded.

Reduce Family Sqaubbles

Everyone has experienced or heard of families that fight over estates. While a trust does not guarantee a family unity, it does significantly reduce the chances of feuds.