In the last post, we told you that everyone can have a Revocable Living Trust. They are not just for the wealthy. However, that begs the question, does everyone need a Revocable Living Trust?
If you go online and read about what you should have for your estate plan, it is easy to come away with the impression that everyone should have a Revocable Living Trust. It might even seem that it’s the world’s greatest legal instrument given to us from above as a special gift. That’s because many online document companies want to sell you a Trust form to fill out.
Do not get me wrong Revocable Living Trusts are excellent instruments in estate plans. They are not the best choice for everyone, however. A proper estate plan needs to consider an individual’s unique situation and goals. The estate plan finds the proper instrument to accomplish the goals given the situation. That might be a Revocable Living Trust. It might not be.
The best thing you can do for your estate is to schedule an appointment with an estate planning attorney. Tell the attorney what you want to do with your estate and let the attorney work to find the best way to accomplish your goals.