Why Even Harmonious Families Need an Estate Plan

Many families pride themselves on their harmony—gathering happily for holidays, sharing stories, and enjoying each other’s company. But when the matriarch or patriarch passes away, even the most amicable families can find themselves entangled in disputes over money and property. What seemed like a close-knit group can quickly become divided, leading to costly and emotionally draining litigation.

Testamentary Trusts: The Best of Both Worlds

You have several different options when it comes to creating the right estate plan. Some people believe that a revocable living trust is the best way to go, while others think that a last will and testament (commonly known as a will) is best under certain circumstances. Others may find that a combination of both—through the use of a testamentary trust—provides the right amount of control and protection for themselves and their loved ones.