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Reply to "Wills vs trusts vs neither"
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[quote=Anonymous]Trusts can be helpful if you have young children but aren't really necessary unless you have a lot of assets that will actually go through probate. I only know VA, but here you can change the title on your house/vehicles to simply pass to your spouse or other beneficiary on your death. Bank accounts and 529s also let you setup survivorship options to avoid probate. Some things won't pass on to minor children like your 401k so would require at least a testamentary trust and guardianship I learned all of this from using the MetLife legal plan which provided a lawyer that recommended we use a living trust, probably for reimbursement reasons. Just fyi, with a living trust you have to retitle a whole lot of things into the trust and ensure future accounts are run through the trust. It's sometimes a pain.[/quote]
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