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Wills and Trusts
I know what a will is. The simple version is that it’s a legal document that lists one’s assets and how they want them to be distributed after they die. I also thought I knew what a trust was, but I always believed that trusts were for rich people. After all, usually one hears the term “trust fund” and assumes great wealth.
To my surprise, it is not that way at all. From what I have learned, having a trust simply allows one’s family the opportunity to not have to go through the process of probate. Well, it’s slightly more complicated than that, but the point is, one doesn’t have to be wealthy to have a trust.
I am investigating this further, because after my mom died, what I had to deal with was a nightmare. I don’t want to put my kid (or husband, if he survives me) through that.
Do you have a will or a trust? Send an email to lisa@lisasealey and let me know your experience with putting it together. Any input will be helpful!
