Who can benefit from a trust?
think trusts are often overused. There’s a lot of situations where you don’t need a trust because you could use beneficiary designations for example, or a lady bird deed for a house. Those are much quicker, much cheaper, much easier to arrange and to carry out your wishes. I do think trusts are important if you have certain situations, multiple parcels of real estate for example, property in other states, minor children, disabled children, or you want to make distributions over a long period of time. Those are some of the examples where I think a trust is really necessary. In other instances, I like to look for alternatives.