Isn't a will enough? Why is a trust necessary?
| WILL ONLY | ESTATE PLAN WITH A TRUST |
|---|---|
| Financial decisions must be supervised by a court appointee at high expense | Gives immediate authority to person you choose to make decisions, without court intervention |
| Court must authorize release of any asset of the estate to beneficiaries | Gives immediate access to assets without delay and cost of court intervention |
| If incapacitated, no one has authority to access funds or make health care decisions without a lengthy and expensive court process | Gives trusted person immediate authority to make decisions for an incapacitated person |
| May not select guardians for your children and does not provide financial guidance for children over 18 who inherit the estate | Gives trusted person direct authority to distribute the estate to your minor children according to your pre-set guidelines |
A trust accomplishes things a will alone cannot do. An estate plan with a trust accomplishes what a will does at a significantly lower cost.