limber as persons
Process most malleable
Opening space works hear
Shifting patterns
Showing us structure
can be limber as humans
:-Doug.
Archive for November 23rd, 2015
Trust forms from the Internet seem simple
Trust forms from the Internet seem like just words on paper; moving them around seems like a thing anybody can do. They are as dangerous financially as it would be to download a set of instructions for do it yourself kidney surgery: cut here, suture there….
:- Doug.
Why do I like/not like trusts?
Trust documents are labyrinthine: hard to understand. Wills say give this.
In a trust, the house takes two deeds; in probate only one, and sometimes none.
In a trust, it takes opening two bank accounts; in probate often two, but not always.
In a trust, you do the work even if the assets end up gone; in probate you do only what needs doing.
In a trust, you do the work; in probate, your kids do it.
In a trust, if there is a dispute over a bill, your assets are at risk for a longer time (9 mos vs 3) but may present the creditor more hurdles; in probate you can cut off creditors more quickly.
Neither is inherently faster than the other: it all depends on the kids.
Trusts do not have special needs safe harbors; as a practical matter, probate can better protect the surviving spouse in a Medicaid setting.
Why don’t I like trusts? Misused, they are more complex than necessary to do the job. Why do I like trusts? Used properly they can provide protections in complex family settings.
:- Doug.
Trusts are complex for complex situations
Trusts are complex for complex situations; Wills are the simple means for normal settings.
:- Doug.
