Author Topic: Wills/Guardianship/Trust Question  (Read 893 times)

slappy

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Wills/Guardianship/Trust Question
« on: January 23, 2018, 03:48:50 PM »
We have an appointment to sign off on our will and name the guardian for our children in case we both pass away. My question is, do I need to have a trust set up now to name as the contingent bene for our life insurance?  Or is a springing trust in the will sufficient?

frugalcoconut

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Re: Wills/Guardianship/Trust Question
« Reply #1 on: January 23, 2018, 06:14:48 PM »
I don't know the answer to your question but I would imagine that this is state-specific as to what options are available.  The estate attorney should be able to answer those questions though.

MrUpwardlyMobile

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Re: Wills/Guardianship/Trust Question
« Reply #2 on: January 23, 2018, 07:22:05 PM »
I don't know the answer to your question but I would imagine that this is state-specific as to what options are available.  The estate attorney should be able to answer those questions though.

 This answer is really perfect.
« Last Edit: January 23, 2018, 07:57:17 PM by MrUpwardlyMobile »

Finances_With_Purpose

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Re: Wills/Guardianship/Trust Question
« Reply #3 on: January 23, 2018, 07:40:07 PM »
If you have to put wills, guardianship, and trust in the title: it's a question for an attorney.  Nobody here is likely to give you legal advice.  But I hope you find the right answer. 

mxt0133

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Re: Wills/Guardianship/Trust Question
« Reply #4 on: January 23, 2018, 08:34:11 PM »
The way we did our estate plan was to establish the trust which is unfunded until our assets pass to it if my wife and I pass.  As per my lawyer there is no special paper work to create a trust it is just defined in you estate plan, meaning you don't have to register the trust.

rockeTree

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Re: Wills/Guardianship/Trust Question
« Reply #5 on: January 24, 2018, 05:19:24 AM »
Our lawyer gave us very specific language to put down for contingent beneficiary- yours will too and if they don’t ask. This is as everyone has said jurisdiction specific.


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