Do I Need a Will or a Trust? (Do I Need Either One?)

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Should you have a will in place or a trust? This isn't about will versus a trust but do you really need to have either one in place in the event that something unforeseen should happen to you.

These tips from Toby are important because things happen when you least expect them to. Being prepared is important because if you're not others, possibly the state, might have to step in.

If the state steps in it's costly and you can virtually guarantee it won't be in yours, your spouses or your family's best interest.

What about having power of attorney?

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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. of the information contained herein without seeking professional legal advice.
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Remember - a Trust costs a lot more to set up than a Will. If you don't have anyone to be managing that Trust, then mucho bucks to hire a Corporate Trustee who will charge you a fee each month!! If you do have someone to manage the Trust, that person will have a lot of fun with all the taxes, regulations, and filings. So unless you got a very substantial estate, may want to re-think that Trust thing.

vuho
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How much does a Living Trust cost going through a Lawyer. How much does it cost creating it yourself?

mariadelia
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Hello Toby - listening to this in Jan 2023 - thanks for all the information!

warko
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Yes sir I have a living trust and I want to add my kids on

DavidCruz-lz
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What about having TOD financial accounts

christineahrens