• RuthPGeorge

Trusting the trust plan

Planning with trusts can mean control and for good reasons.

Take the following examples:

Person #1 died with a Will with a Trust to benefit second wife and upon her death, the trust balance will pass to his two children from different marriages (and other provisions). Second wife receives benefits from this trust during her life, and upon her passing, decedent's two children from different marriages will benefit equally.

Person #2 died with a Will with the estate passing entirely to his girlfriend without a trust. Girlfriend passed away only three years later without a Will causing her entire estate to pass to her parents. Legal maneuvers ensued with the ultimate result being less than the decedent would have desired.

Person #1 was David Bowie who died too soon at age 69.

Person #2 was Jim Morrison who died too soon at age 27.

Trusts can be in your Will for good reasons. It's important to have the honest discussions with your attorney when making your estate plans.

#trust #trusts #trustplanning #trustadministration

3 views0 comments

Recent Posts

See All

https://youtu.be/bUJZD0PwG4w What happens when there's a Will contest? Who is involved? How long might it take? Who has the burden of proof? How might issues like these need to be reflected in your es

When the owners of a small business and the small business, itself, believe it is in their best interests to restrict each owner's right to dispose of their interests (think – financial value!) and ri