Do I Need a Trust?
I want it clearly
understood, that while I am a paralegal in this area, I am not a
lawyer and I do not practice or intend to practice law. I am merely
pointing out, in the most general terms, when consulting a lawyer
might be of benefit to you.
You should seriously consider a trust under the following
circumstances:
you own property in multiple states or multiple countries
you have ex-spouses who are not necessarily your friends
you have children by previous marriages
you are not living what is considered a normal lifestyle
you have assets in excess of the applicable limit
you wish to attach certain conditions to any inheritances
your affairs are complex with many interlocking features
your affairs are in a mess too difficult to deal with effectively by
yourself
your spouse is not a US citizen
you wish to avoid probate
Please be aware that whether you have actually drafted a will or
not, your state of residence has a generic will all ready and
waiting for you. Consult a testamentary lawyer in your state and if
you do not like the will your state has prepared for you, please
draft one more to your liking. If you die without your own will and
the state cannot find an heir near to hand, the state will itself
become your heir and will inherit all of your assets.
There are ways to directly pass along property without using a will
or a trust but I strongly encourage you to consult a lawyer before
you use any of them as they can leave you vulnerable to undesirable
consequences. The same statement applies should you be divorcing or
disinheriting someone. The language of the law is very specific and
these things must be arranged correctly for events to occur as you
wish them to. Citadel Law is our legal affiliate.