If I have a Will, is that Adequate Planning?

I depart from investing money, into another type of investment; protecting your assets after you die. I am talking about a Living Trust. One of the most loving things you can do for your family is provide for their future security with a Living Trust. Many people do not realize doing a Will is an invitation into Probate. Really? Since you have a Will you most definitely go through the Probate process. You may ask, “What is so bad about going to Probate court?” Simply, it could cost your family 5% to 10% of the GROSS value of your estate. Sadly, the Probate attorneys get most of it. For example, if you die with assets in your name in the amount of $500,000, which includes the value of your home, the Probate process could take $25,000 to $50,000 of YOUR estate before your family gets a penny. I assume you want your family to receive that money, so you need to avoid Probate. How? A Living Trust.

With a Living Trust your family avoids the costs, delays, and heartaches of going through Probate. If you saved this $50,000 by not going through Probate, you could apply it to your kid’s college education, or anything else you desire. In addition to avoiding the delays and costs of Probate, a Living Trust includes several features, such as you pre-determine who will care for your minor children, who will care for you in your old age, create a Healthcare Power of Attorney, and a Living Will which is your dying instructions to your family.

Obviously, this limited space cannot fully explain the ins and outs of a Living Trust, so please go to my website, “http://heritagelivingtrust.http://heritagelivingtrust.com/sutton” for more information, or better yet, give me a call.

If you have any questions, feel free to call me Robert E. Sutton (918) 698-1454 or email me:  Robert.Sutton@Paronex.com.

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