Are trusts only for the rich?

You've probably heard people say that trusts are only for the rich or only if you have a net worth of X number of dollars or more. That is not the approach that we take at Wills and Wellness. Instead, what we do is we let the client decide, is a will the best route or is a trust the best route? It has nothing to do with how much you own or might own or your net worth or anything like that. Because for us, it's really about the quality of what your family's going to have to go through. 

If you leave a will and no trust, your family's probably going to have to go through the probate court in most cases. If you utilize a trust instead and everything is done properly, then your family can avoid the probate court and things can be much more immediate as well as kept private versus with a will, things become a public record. 

So, going through the ins and outs of how a will works, what steps are actually going to be taken, versus how a trust works, what steps to take under a trust down the road, that really helps our clients figure out, is the trust right for them? 

We never make a judgment call looking at our clients' assets to say, "Oh, that client doesn't need a trust. We're not even going to talk to them about it." Or making the judgment call, that client definitely needs a trust and that's all we're going to talk to them about. It's not up to us ultimately. It's up to our clients who we go to great lengths to educate you about the differences between the two so that ultimately, you're the one deciding what's best for you and your family.