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Is a Trust Right for Me?

When planning your estate, deciding between using a Revocable Living Trust and a Last Will and Testament can be your most important choice. Yes, choosing financial and health care agents, beneficiaries, and guardians are all big decisions, but how your estate is handled is just as important. Take this quick five question quiz to see if you lean more towards a Will or a Trust.

Click the button below to start, and remember that there are no wrong answers. This only gauges your interest in a Revocable Living Trust versus a Last Will and Testament for your estate goals.

Start

Question 1 of 5

After you pass on, is it important that your estate be distributed with as few costs and delays as possible?

A

Yes, I want to avoid settlement costs and delays as much as possible.

B

No, I'm OK with settlement costs and delays, and my beneficiaries should be OK without my assets being immediately available.

Question 2 of 5

While everyone hopes for the best, do you want your estate to be as resilient as possible against possible court contests from disgruntled family members who may feel slighted by what you left them (or didn't leave them)?

A

Yes, there may be one or more people who would create trouble for my estate.

B

No, I really don't think it's an issue, and if it was then I'm OK with the costs and expenses of a court settling the dispute.

Question 3 of 5

When I pass on, there is a possibility one or more of my beneficiaries will need their inheritance protected from creditors, bankruptcy, or to maintain benefits such as Disability or Medicaid, and I don't want a court to have to be involved.

A

Yes, I want to make sure that inheritances for my beneficiaries are protected without a court being involved.

B

No, I really don't think any of my beneficiaries now or in the future will need special protections, or if they do then it is OK if a court is involved.

Question 4 of 5

If you become incapacitated, do you want your assets and health to be handled by your chosen agents outside of a court's oversight?

A

Yes, if I am incapacitated but not dead, then I want myself and my assets to be cared for without the expenses and hassles of court oversight and reporting.

B

No, I'm OK with a court overseeing my health and finances even though it would mean more costs and red tape for my agents.

Question 5 of 5

When an estate ends up in probate, the filings and accountings are open to the public, so all of your assets, their values on date of death, and beneficiary contact information is open to the public. Is that a concern for you?

A

Yes, it concerns me. I don't want my personal financial information and beneficiaries open to the public when I die.

B

No, it doesn't concern me, and I am OK with that information being open to the public after I am gone.

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