The author is an attorney and has personally prepared over 4,000 trusts and estate plans. In the first chapter he reviews the differences between a will and a trust and states “The fact is that nearly everyone would be better off with a trust than with a will. In most cases the only person who benefits from our having a will instead of a trust is your lawyer. Attorney fees for making the will and probating the estate are a lawyer's bread and butter.”
Trusts are most beneficial for those with one or more of the following situations involved:
- Disabled Beneficiaries
- Unmarried Couples
- Blended Families
- Separated Couples or Separate Trusts
- Large Estates
- Small Estates
The author has done an excellent job in giving detailed information without being dry or boring. Everything that he has written is important and no words are wasted.
I highly recommend this book as it is specific yet easy to understand. A quick read will convince you of the importance of trusts or in the rare case of why you don't need one. One very interesting facet of a trust is that the benefits are for the living and not just a method to disperse funds when someone passes away. As a reference tool the chapter headings allow you to review time after time as questions arise. My copy is now highlighted in yellow and green.
Very useful reading and a must for anyone who desires to manage their finances responsibly and profitably.