I live in Arizona. 70 year old single male with one living relative, a sister. I intend to leave my entire estate to my 25 year old unofficial adopted son. My primary estate consists of two houses, two vehicles, a boat and personnel property. The total estate has a value of about $500,000.
Question: Do I need or would it make things easier on my heir if I have a Revocable Living Trust, or will just a will do in my case?
Question: If I do a trust will I have to transfer all the major assets into the trust, or will (what I think is called a roll over will) automatically do that on my death.
Please let me know if I haven't been clear.
Steve
Question: Do I need or would it make things easier on my heir if I have a Revocable Living Trust, or will just a will do in my case?
Question: If I do a trust will I have to transfer all the major assets into the trust, or will (what I think is called a roll over will) automatically do that on my death.
Please let me know if I haven't been clear.
Steve