As explained in last month's Blog, a well drafted and properly executed Will is an essential part of a good estate plan.  Trusts also play a key role but these useful tools are often misunderstood.  It is common for people to assume that trusts are only for the mega-wealthy or that trusts are much too complex to manage.  However, adding a Trust to your plan is simple and can allow you to accomplish many goals, such as:

Avoiding Family Disputes After Your Death

 As we all know, disagreements among family members are a part of life. Even the closest of families experience dustups every now and again, but most of us don’t like to think of them happening as a result of our deaths. In fact, avoiding family disputes is often one of the primary reasons to have a carefully drafted estate plan. It can be very helpful to identify (while you are alive and well) some situations that often lead to disputes so that you can try to prevent them. Here are some common reasons why disputes arise following a family member’s death, and some tips on how to avoid them from happening.

Let’s start with some planning basics – how to ensure your assets are transferred according to your wishes after death. A properly drafted and executed Will is a tool that should be a part of every adult’s estate and legacy plan, regardless of level of wealth.