By Diana Mercer, Attorney-Mediator, Peace Talks Mediation Services, Inc., http://www.peace-talks.com/estate.php
There are lots of decisions which go into deciding if you need a living trust. http://www.peace-talks.com/trust.php. It can depend on your assets, because ev 00004000 eryone wants to minimize their estate taxes and make their estate as easy as possible to administer. http://www.peace-talks.com/needtrust.php But there are other reasons for living trusts, too, like providing for minor children or grandchildren, providing for a special needs adult child, creating a aspendthrift trusta for a beneficiary who you believe is a little too freewheeling with financial decisions, and to avoid probate court, to name just a few of the benefits of a living trust. http://www.peace-talks.com/cost.php
A trust is a gift to your children also. Losing a parent is so stressful and trying. On the one hand, children are faced with the devastation of a beloved parent. On the other, they are overwhelmed with all of the decisions that need to be made bout thing they’d never considered.
Once you’ve decided that you want or need a living trust, there are even more decisions to make. http://www.peace-talks.com/estfaqs.php. Who will you choose to administer the trust? Who will your beneficiaries be? Will they receive equal shares? What if one dies before you do? These decisions must be made thoughtfully and take into consideration both family capability to execute these responsibilities as well as the feelings which may be hurt.