To have a trust or not?

[A HERETIC I AM]

5. You say you have no kids, but are there any other heirs at all?

Last edited Thu Nov 11, 2021, 03:06 PM - Edit history (1)

Nieces or nephews, perhaps?

Or are you at all charitably inclined?

As was mentioned, a trust helps avoid the probate process, and if you intend on leaving assets to any entity at all, having a trust makes that process smoother. Plus it allows you to spell out specifically how disbursements would take place.

If you listen to NPR, you have heard the names of various trusts that help fund their programming, the Joan Kroc (Wife of Ray Kroc, founder of McDonalds) Foundation being one of them. A trust can help fund any number of causes you feel passionate about in perpetuity, if the investments held by the trust are structured properly.

If you and your spouse feel there would be a significant amount of assets and you would like it to go toward some particular cause dear to you, a trust is the best way to make that happen. If it is going to be a significant amount then you should seek the advice of competent legal counsel in this regard.