You would be amazed at how many people give legal advice who are not qualified. I see continual ads on Facebook about trying to convince people to do their own Will. They lead them to believe that everything will be fine once they are gone. It’s just not true. First of all most states have an extremely low number for probate. In other words, if your assets are significant, even if you do not own a home, can still be probated. In the United States many states start at five thousand dollars. If you have any property above that amount, including a vehicle, your heirs will have to go to probate. California has the highest probate exemption but homes, including mobile and manufactured often exceed the limit. Of course in all TV shows and movies when a person has passed they have the reading of the Will which is always a huge event. Of course, this always leads to drama and a twist of the plot. The problem with the Will is that probate takes long time and is costly. Most people who have any valuables whatsoever should have a Trust although the popular term is Living Trust. It gives the protection of assets including money in bank accounts. As long as you put your assets in your trust and your bank account has the trust as the account holder you will be in good shape. It is important to make the right choice for a trust. You should look over all of your options before making a final decision. The prices range from under one thousand dollars to over thirty-five hundred dollars. There are cheaper companies that will give you a product but they are poorly written. You should receive powers of attorney for money and health, along with the HIPAA, a Will, and a document entitled Schedule A. All are valuable to you and if you forget to put a bank account or asset in the trust they are quite handy. These documents will save your heirs time and money. They have to go to court but it will not be probate or take a long time. Please think about it if you are only considering a Will. The Good Gus Series is available online at Kindle, Nook and Waterstones. Hard copies, personally autographed, are available through our website www.goodgusbooks.com along with past blogs for your reading enjoyment. Now available audio and videos for the Good Gus series on YouTube! Digitizing for all the books are available now on YouTube! “Misplaced Trust” is now available on Amazon in e-book form. It is also available digitally at www.misplacedtrustbook.com. If you are thinking of a Will or a Living Trust, “Misplaced Trust” will give you the information you need to make an informed decision. Please check me out on IHeart radio. The Good Gus series, books one through four, are now available at the Morgan Mill Mail/UPS. I am about to be on Shopify, Instagram and Tic Tok!
Will
13
Jan