Reply to Setting up a trust questions about moving home into trust

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[quote=Anonymous][quote=Anonymous]If you are thinking about the $500 it costs to have your attorney do this, my first question to you is why you have a trust?  Trusts are completely unnecessary for most estates.  Do you have a lot of stipulations on how assets are to be distributed?  Is your estate extremely complex?  [b]Do your heirs (or your executor) lack the ability to navigate probate?  [/b]Do you have heirs with special needs who may not be capable of managing their own finances?  If the answer to all of these is no, then the only thing you are doing by setting up a trust is enriching the attorneys who will be paid to set it up and manage it.[/quote]

Why the F would you want anyone to go through probate?!?!?  A young family we know in another state lost their breadwinner over a year ago in an accident.  The spouse didn't have a job, had to deal with 2 kids in school AND go through a lengthy 14 month probate process to move their small house and car to her name.  Lawyer and court fees added up too!  Thankfully, she was able to access her joint bank accounts while looking for work and navigating this mess.  Family contributions and GoFundMe helped out with expenses in the first few months before SS kicked in.  Far, far easier and better to have joint title to the house and car or have them titled in the name of a Revocable Trust.  [/quote]

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