oljedi11950
New member
Ok guys & (gals if lawyers) , single dad 1 son , living trust , will , both, you're best advice is appreciated , or anyone with experience with ? :fishing:
I can't believe I haven't done this yet WTF !
- Thread starter oljedi11950
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BlackWorksInc
New member
Shotgun or Dynamite?
BlackWorksInc
New member
Fishing I believe, hence my counter question.
wnelax04sr5
New member
"should i have a living trust, a will, or both" thats the question
1engineer
Moderator
Mike, both my wife and I have wills and they have changed over the years as our children grew up. When our kids were young the wills had specific instructions and appointed guardians for our kids. Now that they are mostly on their own we have a pretty simple will leaving everything (not a lot lol) to them. You really need to talk to a lawyer in your neck of the woods to help you out. Different states have different requirements.
ben550
New member
Once you have the will completed by a lawyer, you can change it by adding amendments.
Change the "guardian" for your child from A to B... etc.
Type up a letter with the changes you would like to make. Sign it, date it, have it witnessed and notarized. Put in the folder with the original will.
This is an option rather than paying for the whole process every time something changes.
However it is a good idea to have it checked and updated by a lawyer every 5-10 years as the laws do change.
Change the "guardian" for your child from A to B... etc.
Type up a letter with the changes you would like to make. Sign it, date it, have it witnessed and notarized. Put in the folder with the original will.
This is an option rather than paying for the whole process every time something changes.
However it is a good idea to have it checked and updated by a lawyer every 5-10 years as the laws do change.
oljedi11950
New member
More of an thought on what's better in the forum's opinion , living trust or will ? 
ainkiller:
ainkiller:
1engineer
Moderator
Yep plus their age matters too.
oljedi11950
New member
Ok thanks makes sense ! 1 & 18 & you know how old I am ?
Hey Mike, we're the same age but my kids are older (30's) and what we have is a simple will that splits whatever we own in half for them.
At 18, our kids didn't get anything otherthan their names on a trust until they turned 30 because 18 year olds are kind of stupid with cash. We figured by 30 they wouldn't take their share and blow it.
One factor is your State Laws on inheritance, you want to keep your estate out of probate.
At 18, our kids didn't get anything otherthan their names on a trust until they turned 30 because 18 year olds are kind of stupid with cash. We figured by 30 they wouldn't take their share and blow it.
One factor is your State Laws on inheritance, you want to keep your estate out of probate.
