Wednesday, January 18, 2012

"Sticky Note" Estate Planning

The Metrowest Daily News has published my article, "Sticky Note Estate Planning"  Its about how, by "funding" as we call it, your trust, your family can avoid having to go through a court process called "probate" in order to transfer your assets.   To read the full article, click here

For this process to work, you have write a good, clear, "sticky note."  As you may know, trusts usually run to more words than can be fit on one of those!  Also, the nature of sticky notes is that they can come "unstuck."  That's what so special about them, actually.  The "sticky" is very weak.  If you want to make your directions stick really strongly, we recommend legal "superglue" - actually changing the legal title of your property to the name of your trust.

This makes some people nervous.  They feel that they will be losing control of their property.  Not to worry.  The trust itself says what control you retain over the property.   We recommend that at least your checking account, car and personal property should be "stuck to" your Life Trust, which says that, during your life, while you are well and able to make decisions, you have complete control.