Not sure what we should set up wills, living trust etc.

UPDATED: Sep 30, 2022

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Sep 30, 2022Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

Not sure what we should set up wills, living trust etc.

My husband is 52 and I am 51 years old. We think we should have at least a will set up incase anything were to to happen to us. We have 3 kids, 24, 19 and 9 years old. What is your advise?

Asked on January 12, 2017 under Estate Planning, California


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

A living trust takes property out of your control NOW. It is a good idea if you have surplus assets that you want to start helping your children now, before you pass, but not a good option otherwise.
You should however have a will: the will can leave money or assets outright to the 24 year old; leave something outright to the 19-year old, but also set up a "testamentary" trust (one that comes only into existence when you pass away) to use other monies for the 19-year old's education or medical care, and to generally care for the 9-year old, while also designating a guardian for the 9-year old. That's just one example, but generally, whatever instructions you'd have for the use of you money or for how your children (especally the youngest) will be taken care of  after you pass away can be accomplished by will. The best thing to do is to consult with an attorney who handles trusts and estates work: the lawyer can make sure that the will is properly drawn up to *exactly* reflect your goals and intentions.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption