S
shastakat
Guest
What is the name of your state? Ohio
My husband and I each have wills leaving everything to each other, with our only child (adult) as secondary. We own our home (in both our names) and have no debt at all. We have Roth IRA's and 403B's at work along with savings and life insurance. Our total estate would probably be around $500,000. We each also have a living will, durable power of attorney for health care, and durable general power of attorney. We keep hearing that people should have revocable trusts rather than wills because wills will cost us in probate. We understand that revocable trusts cost a couple thousand dollars or more but save at probate. Any advicewould be greatly appreciated.
My husband and I each have wills leaving everything to each other, with our only child (adult) as secondary. We own our home (in both our names) and have no debt at all. We have Roth IRA's and 403B's at work along with savings and life insurance. Our total estate would probably be around $500,000. We each also have a living will, durable power of attorney for health care, and durable general power of attorney. We keep hearing that people should have revocable trusts rather than wills because wills will cost us in probate. We understand that revocable trusts cost a couple thousand dollars or more but save at probate. Any advicewould be greatly appreciated.