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Which is Better for Me a Will or a Trust

Posted on: April 23rd, 2013

Which is Better for Me a Will or a Trust:

 

Planning Issue

Will

Trust

Limited Cash Flow

X

 

Younger clients

X

 

Older Clients

X

X

Limited assets, including life insurance

X

 

IRA, 401K 403b or other large qualified retirement plans

 

X

Difficulty of Probate in Montana (informal probate process)

X

X

Simple, outright disposition of assets at death (NOT RECOMMENDED in just about every situation)

X

 

More sophisticated and disposition of assets at death, which protects your beneficiaries and your legacy.  

 

X

Privacy Issues

 

X

Possible or Probable mental disability

 

X

Desire to make everything as easy and inexpensive as possible for heirs.  

 

X

Desire for you heirs to receive the benefits of there inheritance in an expedient manner. 

 

X

Out-of-State real estate or timeshares

 

X

Complicated dispositions issues

 

X

Second marriage or children from prior marriage

 

X

Out-of-state executors, trustees or guardians

 

X

Tax planning

 

X

Protection of inheritance for spouse, children and grandchildren

 

X

Medicaid planning or qualification issues

 

X

Planning for beneficiaries with "special needs"

 

X


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