Wills and Trusts – Are They Necessary for Everyone?
on how your estate is distributed. The state will also decide the fate of any minor children and dependents. In order to avoid this scenario, everyone should have a will. A revocable living trust is a document that protects your assets and skips the probate process as the assets within the trust are passed to the trustee and beneficiaries without the need of the court. This is why everyone should also have a revocable living trust. Do I need a will? A will is a basic document that everyone should have. Here is why. Even a single person with no dependents dies with an estate worth $250,000.00, the state will decide who gets that money. If there is no spouse or children then the money will goes to the next of kin (or closest living relative). It starts with siblings and then expands out to cousins, etc. Court costs are deducted from the estate and by the time it is all over most of the estate could end up going to the State. The remainder could go to a cousin you never knew existed. To p
