Why You Need (or Don't Need) a Trust

Most of us don’t understand what a trust is or what it does. In this bite-sized Tuesday Triage episode, Jill breaks it down in plain language: what a revocable trust is, what it can and can’t do, and how to know whether it’s the right tool for your situation.

What Jill Discusses:

• What a trust is and what a revocable trust means
• Why trusts are tools, not status symbols
• Two key reasons people use revocable trusts: (1) to simplify management of assets during life and after death, and (2) to avoid probate after death.
• Common situations where a revocable trust makes sense: (1) owning real estate in multiple states, (2) maintaining privacy, (3) avoiding court delays, and (4) avoiding percentage-based statutory probate fees (like in California)
• A breakdown of how California calculates probate fees
• What it means to fund a trust (and why it’s crucial!)
• A reminder: trusts aren’t the only way to avoid probate

Resources & Links

• Video: Do you need a Will?
• Got a question for Tuesday Triage? Email Jill at [email protected] or visit www.deathreadiness.com/tuesdaytriage

Connect with Jill:

• Website: DeathReadiness.com
• Email: [email protected]
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• Submit a question for Tuesday Triage!

This podcast provides estate planning guidance for women and discusses real, practical issues, from caregiving, pre-planning a funeral, how to avoid probate using beneficiary designations, planning for individuals with special needs (and special needs trusts), whether you need a professional fiduciary (trustee or executor), how the estate tax works and how to preserve your legacy.

Tuesday Triage episodes answer questions from listeners like you, from powers of attorney, healthcare advance directives (and whether they work when you’re pregnant), what a Last Will and Testament really is, whether you need a trust, how Medicaid works and how to have senior and elder care conversations and how to care for aging parents.

Disclaimer: This podcast and all related content are for educational purposes only and do not constitute legal advice. No attorney-client relationship is established here. Use of this information without careful analysis and review by your attorney, CPA, and/or financial advisor may cause serious adverse consequences. For legal guidance tailored to your unique situation, consult with a licensed attorney in your state.