Questions to Ask When Planning a Trust

Questions to Ask When Planning a Trust

Taking care of your family means putting in provisions that will ensure their protection and financial security in the future. That’s why hiring a will, estate, or trusts lawyer in Deerfield matters. People live with a great deal of uncertainty. There’s no telling what tomorrow brings, no warning when accidents will happen or when deaths will come to pass.

Which is why talk of planning for the future can often be painful, says Forbes. Because it’s about acknowledging the possibility that you’ll get demented, lose control over your mental faculties, and eventually need end of life care. These subjects are hardly pleasant and it can be depressing to entertain these possibilities. Here are some questions you’ll need to consider:

1. Who will take care of your kids in the event that both parents die?

A lot of couples wait till their kids reach 18 years of age before they decide to appoint a guardian. But what if something happens before then? The court will do it for you. So make sure your kids end up with someone you trust. Decide on a guardian well before your kids are grown. You could always change it later.

2. What happens if you all die in a disaster?

Deciding on where your estate should go in this case can have you stumped. Still, you could pick relatives, close friends or your favorite charity, in case you and your entire family are lost to an accident or disaster.

3.  Who’s going to take care of your pets?

You might need a pet trust if you’ve got racehorses, dogs or any other animal with long life expectancies. If you haven’t got friends and family you can leave your beloved pets with, your lawyer will help you make the right arrangements for them.

So keep these questions, along with plenty of others, when it’s time to make a trust. Call Orlowsky & Wilson, Ltd. for help and inquiries.

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