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Jan 21, 2023
12:41
:22
pm
chem031
Walk-on
No. Once it exists, it exists.
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chem031
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chem031
Joined
May 9, 2014
Last login
Apr 27, 2024
Total posts
137 (0 FO)
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Messages
Author
Time
Do you have a Family Trust? What are the advantages/disadvantages?
squidmark
1/21/23 12:21pm
I’m no legal expert, but we have both a trust and a will. I don’t think they are
blackandblue
1/21/23 12:26pm
Right you still need a will for the assets not held by the trust. But I’m no lawyer either
cheezedawg
1/21/23 12:30pm
But did you stay in a Holiday Inn last night?
Hinta
1/21/23 12:31pm
RE: But did you stay in a Holiday Inn last night?
cheezedawg
1/21/23 12:33pm
Do you have a pour over will?
justAnotherCoug
1/21/23 12:47pm
Yes. It outlines payments to beneficiaries at different increments and times
blackandblue
1/21/23 2:28pm
The main advantages of holding assets in a living trust are that the assets in the trust avoid probate which is
cheezedawg
1/21/23 12:29pm
This is the main reason for us. Things transfer without having to go through
BluebloodOR
1/21/23 12:56pm
Short answer. You need both.
WizeGuise
1/21/23 12:32pm
follow-up: are there yearly maintenance costs/filings with a family trust?
squidmark
1/21/23 12:34pm
No. Once it exists, it exists.
chem031
1/21/23 12:41pm
I have a trust for my kids and I'll inherit funeral costs from my parents. Highl
vagabonder
1/21/23 1:26pm
The main advantage of a trust is that your heirs get to avoid probate. I Amy be
CougBlu
1/21/23 4:32pm
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