Ask an Advisor: Do I Really Need a Trust?
Ask an Advisor: Do I Really Need a Trust?
Tanza Loudenback, CFP® Mon, February 7, 2022,
I retired a few years ago and have a will and power of attorney, a reasonably good-sized net worth, mutual funds, annuities, cash, a home with no mortgage and a long-term health policy. I’ve read about trusts, but I’m still not clear on the pluses and minuses of setting one up. Why is that better than just the will and power of attorney? – Michael
I think many people ignore trusts because they seem elite. But you don’t have to be a multi-millionaire to set one up. Reader, it sounds like you’ve already created a solid estate plan with a will and a power of attorney. But these tools on their own, and without a larger plan, have limitations. Here’s why it might still make sense to get a trust. A financial advisor can help you create a financial plan that leaves a legacy to your heirs.
Why a Will Might Not Be Enough
A will is like a basic instruction manual. It outlines how the assets that don’t get transferred via a designated beneficiary should be distributed upon your death.
However, a will has to be verified by your state’s court system in a process called probate, which can be long and costly for your heirs. This is doubly true if you own property in multiple states. Additionally, probate also means your estate becomes public record.
A power of attorney gives a trusted advisor or relative the legal authority to make decisions about your property, finances or healthcare, but only while you’re still alive. That last part is crucial: Upon your death, the agreement dissolves entirely. So, if you want your assets to pass to your heirs swiftly, specifically and privately, then a trust is worth considering.
The Benefits of Using a Trust
There are several situations in which a trust is better than just a will and power of attorney.
You have multiple heirs. If you plan to pass wealth to more than one person, such as your spouse, adult children or grandchildren, a trust can streamline the transfer of assets and establish if/then rules. This can be difficult to clearly and legally explain in a will. There are also specific trusts you can set up to pass all of your assets to your spouse at your death and allow you to decide who will get what’s remaining at your spouse’s death. You can’t guarantee this type of specificity with a will.
To continue reading, please go to the original article here:
https://news.yahoo.com/ask-advisor-really-trust-200505368.html
Emailed to Recaps~Thank you David
Reset Intelligence: Baghdad Is Hiding the Date
By Reset Intelligence | @EXIT_FIAT
Iraq cut the IQD to 1,500 on October 7. Iraqi-press channels now report what comes next: new banknotes, with the zeros off.
The start date is being kept secret, so that illicit cash cannot move first.
The Government Is Moving Towards Adopting The Dinar Exclusively For Domestic Transactions And Tightening Control Over Markets.
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This video is in Frank’s and his team’s opinion only
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Playback Number: 605-313-5163 PIN: 156996#
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Good Afternoon Dinar Recaps,
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TNT:
Tishwash: Al-Moussawi reveals the date when the 2027 budget will reach Parliament
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KTFA
Clare: Al-Zaidi will conduct a Gulf tour that includes Saudi Arabia and Kuwait next Wednesday.
10/10/2026
Iraqi Prime Minister Ali al-Zaidi is expected to conduct a Gulf tour next Wednesday, which will include Saudi Arabia, after which he will head to Kuwait.
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MilitiaMan & Crew: Stop What You Are Doing: Militia Man's Latest Update
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The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
No drama. No intrigue. No songs and dances. Just straight, factual news that I read and interpret to the best of my ability after being an avid Dinar investor and insanely obsessed Dinarian for over 15 years.
Follow MM on X == https://x.com/Slashn
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Al-Nesoor Law Firm examines Iraq’s new exchange rate and its impact on contracts, imports, businesses, government revenues, and consumers.
Al-Nesoor Law Firm October 07, 2026 On 6 October 2026, the Iraqi Council of Ministers issued Decision No. 544 of 2026, amending the official exchange rate of the Iraqi dinar against the U.S. dollar. The new rates took effect on 7 October 2026, leaving only a very short period between the decision and its implementation.
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Good Morning Dinar Recaps,
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KTFA
Saturday Night Video
FRANK26….10-10-26….JANUARY 1, 2027
This video is in Frank’s and his team’s opinion only
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Playback Number: 605-313-5163 PIN: 156996#
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Good Afternoon Dinar Recaps,
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TNT:
Tishwash: The money exchange union condemns the setting of the dollar exchange rate at 155,000 dinars and threatens a general strike.
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