Will a simple will suffice, or do you require a more complex estate plan? Take this quick questionnaire to find out…
Do you have a minor child who will receive more than $12,000 in the event of your death?
You may wish to consider placing a testamentary trust in your will to manage any funds that your minor child may receive
Do you wish to leave money to a disabled or elderly relative?
You may wish to consider a special needs or supplemental needs trust to protect assets inherited by individuals receiving government benefits or to manage funds for individuals with limited resources.
In the event of your death, will your estate have more than $1,000,000 in value, including life insurance?
You may wish to consider creating a trust to minimize taxes that may be due on your estate.
Do you have children from another marriage?
You may wish to create a binding trust to provide for both your spouse and your children.
Do you want to leave a portion of your estate to a pet?
You may wish to create a trust naming your pet as the beneficiary to ensure their future care and well being.
Are you facing a serious illness?
You may wish to create a trust which defines how your assets will be used to ensure that your needs will be met and your wishes will be taken into account despite any future incapacity.
If you answered no to all of the questions, a simple will may be an appropriate estate plan for you.
Please Schedule an appointment to discuss your unique situation.
