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Revocable trust vs. will

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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.
 


Dandy Don

Senior Member
If you have not consulted with a probate attorney or trust attorney to get your wills and trust drawn up, then you need to be doing so, since any errors might cause unintended consequences when handling the trust and the estate.

Also, go to your local library and check out 1 or 2 books about trusts (and look in the index to make sure the topic of revocable trusts is discussed somewhere in the book) and educate yourself about the various aspects of them and some of the books might even answer your questions.
 

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