Is it a Mistake to Set Up a Revocable Living Trust?

Free Durable Power Of Attorney - Is it a Mistake to Set Up a Revocable Living Trust?

Good morning. Today, I learned all about Free Durable Power Of Attorney - Is it a Mistake to Set Up a Revocable Living Trust?. Which could be very helpful in my experience and you. Is it a Mistake to Set Up a Revocable Living Trust?

Some of you may be under the mistaken impression that I am an advocate for a revocable living trust in all situations. This is not true. I believe that using a revocable living trust should be decided on a case by case basis, inspecting the facts and circumstances of the exact case.

What I said. It isn't in conclusion that the true about Free Durable Power Of Attorney. You look at this article for facts about anyone need to know is Free Durable Power Of Attorney.

Free Durable Power Of Attorney

For example, let's talk about my mother-in-law. This is a true story.

Back when I was in active practice, my mother-in-law didn't want to ask me to work on her estate plan. She didn't want to bother me. So, she went to one of the free estate planning and living trust seminars we often see advertised in the paper.

She got caught up by the sales pitch in the argument (I think there was a reduction if you signed up before the argument was over) and paid for a revocable living trust, pour-over will, and condition care and financial powers of attorney.

To her credit, she began to have misgivings after she received her set of "documents" so she asked me to look them over. I did. They were trash. I told her to taste the business and ask for an immediate refund. I told her to tell them I was an attorney and would take proper operation if her money wasn't returned. They gave her money back.

I then told her to go to the legal affairs office at the military base (she is retired military) and have them draw up a simple will along with the durable general powers of attorney for condition care and financial decision making.

Given her relative young age (early 60s), estate, and family situation, I saw no need or benefit to a revocable living trust in her situation. A simple will was all she needed.

And it may be all you need.

So before you get wrapped up in the complexity and cost of a revocable living trust, seek out the guidance of a competent, unbiased professional to decide what estate planning documents are proper in your situation.

Good luck and until next time,

Phil Craig

P.S. Feel free to send this on to any friends.

I hope you obtain new knowledge about Free Durable Power Of Attorney. Where you'll be able to offer utilization in your evryday life. And most of all, your reaction is passed about Free Durable Power Of Attorney.