Trusts Give You Enhanced Certainty

A will is an important part of any estate plan, but it has limitations. If you have any specific requests, demands, or conditions, you want to consider establishing some type of trust. A living trust, for instance, allows you to transfer assets—such as a house or financial accounts—into a fund while you’re still alive. You could then set conditions on how these assets would be used after you die. You may stipulate that a stock portfolio’s proceeds go to a charity of your choice or that funds be passed to a cherished friend or relative.

Don’t Put Off Estate Planning Because You’re Single

Estate planning isn’t just for married couples or people with children. It’s a necessity for adults of all ages. Without an estate plan, you have no control over your affairs when you’re hurt or incapacitated. The state could appoint a distant relative to oversee your finances if you’re in the hospital or distribute your cherished possessions to relatives with whom you’ve had a rocky relationship or barely know. 


Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.