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Advantages of a living trust over a standard will?

April 26, 2017advantages Living trust standard

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Advantages of a living trust over a standard will?

4 Answers

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IL does not have POD; it’s been illegal in that state for decades. The current version is “in trust for”. It’s supposed to be the same thing.

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It cost us less than $200 to get a lawyer to draw up a simple will for a similar size estate. For another $100 we got advanced directives (“living wills”). Call an attorney. Spend the money. Get the piece of mind.

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One of my questions from a while back has even more of the never-ending “you need a lawyer – no you don’t” debate as well as thoughts on cost. From personal experience I wouldn’t try to negotiate this without a lawyer. There are difficult and region-specific issues and the potential cost of screwing it up is too high.

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small_ruminant is right. You are looking for a specialist. Ask a lawyer you do know for the name of one that specializes in trust and estates work. I hope that was clear from my earlier post.