Really trying to get Mom's affairs in order and I'm totally lost. I know we need either a will or a trust, but I can't figure out which is best. We're not rich or anything, just want to make sure everything's taken care of properly. Is one easier to set up than the other? Any help would be appreciated!
My friend a paralegal and she helped us figure this out for my parents. Main thing she said is that wills are simpler but everything has to go through court after they pass. took her 18 months to settle our aunt's estate with just a will! said trusts cost more to set up but way easier on the family later. We did a trust for mom since she has the house plus some rental property. Whatever you choose just make sure its done by a professional
A will basically says who gets what after someone passes, but it has to go through probate court which can take forever (and cost a lot). we ended up doing a living trust bc it lets you skip all that court stuff. Our lawyer explained it like this: a will is like leaving instructions for after you're gone, but a trust is like creating a container and putting your stuff in it now. We're not wealthy either but the lawyer said a trust made more sense for us bc of dad's house. cost more upfront but supposed to save headaches later