Q: Is it better to will my assets to my children or set them up as beneficiaries to a trust?
A: This is a very good question, and the answer depends very much on the specifics of your particular situation. Some of the factors to consider include: the age of your children; whether or not any of them have special needs, credit issues, or difficulty managing money; your long-term goals for your property; tax considerations; and whether some of the other benefits of having a trust could outweigh the simplicity of having just a will. There are other factors to consider as well. Generally speaking, a will is simpler than a trust, but there are a lot of things a will cannot do very well, that a trust can. It really all depends upon your situation.
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