should I get a trust?

[smowen3]

My landlords (both attorneys) have offered to create a trust for my husband and myself at no charge. I am not sure how I feel about it...the following are some of the issues that I am most concerned about-

1) Does this allow my landlords(whom I barely know) to have access to my private and financial info?

2) Could there be a reason I do not know of that forming a trust for us could somehow benefit them?

3) We do not own any property as of now (will hopefully soon), but think that getting a trust for free, before I actually need it is a good thing...What, if anything, am I missing?

It may appear that I am overly paranoid, but I do not know these people well at all, and want to be as educated as possible should I allow them to create this trust for us. Any and all advice is appreciated.

 

[dmode101]

I think you should be very wary of this. Why do they want to give you trusts for free if you don't know these people well? Estate planners are normally liable for errors or mistakes (malpractice) they make in the estate plan. If it is free, then arguably this would not apply. In addition, it takes a significant amount of time, energy and work to draft appropriate docs, I would wonder if they are going to put full attention into this and consider all of your needs. I would alos be worried if they do not regularly practice in estate planning. As far as your concerns:

1. Not unless you give it to them, however it is virtually impossible to develop the appropriate estate plan without disclosing asset info
2. There shouldn't be, but who knows, the whole offer does seem suspicious.
3. I'm sure that you've heard the expression "you get what you pay for"...estate planning is no different. Good luck.

 

[smowen3]

Thank you for your response, It is exceptionally helpful info.