Reply to Estate planning - what type of trust?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It seems that avoiding probate is another issue we didn't talk about, and a living trust would do that. Would that be a reason to have one?[/quote]

That's usually the #1 reason that attorneys will give you, but unless you have a particularly complicated estate, it is really not necessary.  I've taken several estates through probate in different jurisdictions as an executor (and not an attorney), and it is really not that big of a deal.  My legal fees for a local estate attorney were much less than what the deceased would have paid for establishing and maintaining trusts.[/quote]

We have a trust to maintain privacy/avoid probate - so no one will be able to know who inherits and how much is being inherited. Howver, the size of the estate is well above 2.5 m. I believe that was the main consideration.[/quote]

OP here, actually, he did explain the benefits of avoiding probate being public. I'm not concerned about that at this point. The part I forgot to ask about was mute the convenience of avoiding probate for my heirs. Is it worth it to set up a living trust just to make it easier on the kids? We'll definitely have a testamentary trust to make sure the money is looked after for them.[/quote]

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