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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Most people don’t need a living trust.  It’s a money grab by the estate planning trade.  It’s fine to direct the establishment of a trust in the event you die with minor children, but putting all your assets in a living trust is generally an unnecessary complication in life.  Don’t let the attorney convince you that it is necessary to avoid probate because that is “such a long and expensive process.”  That is also generally not true.[/quote]

Hold on a minute.  My in laws set up a living trust at my spouse's suggestion and it made things very, very easy when they passed,  I totally disagree with you on this.  Probate may not always be "long and expensive," but it is definitely longer and more expensive than having a trust -- and it's also a public process.  Some folks value their privacy. [/quote]

People who say it is not necessary have never been through the probate process. Trusts also help protect assets from lawsuits, help protect your heirs' assets in case of divorce, and help you distribute assets on a schedule. Lots of upside.[/quote]

I’ve been through probate four times. I am a lawyer and have had friends who are excellent will and trusts attorneys tell me I don’t need a revocable trust every time I’ve asked. Other than avoiding probate, a testamentary trust will achieve all your other listed goals. On top of which, most people don’t stay on top of titling everything into the trust properly so they end up in probate anyway. Not to mention having court oversight can be a good thing if you don’t have 100% faith in your trustee (and even if you do). Unless you’re Bill Gates nobody cares what’s in your will. [/quote]

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