# Setting up a will and trust?



## ridgetop (Sep 13, 2007)

Anyone done this lately?
I'm looking for some references or a contact to help me get this done. 

Somewhere in the Salt Lake/Wasatch Front area. 

Anyone know who can help me for a reasonable price?


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## Packout (Nov 20, 2007)

Sent you a PM


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## Vanilla (Dec 11, 2009)

You have almost unlimited options. Depending how complex your estate is, you could probably use one of the online services like Legal Zoom, NOLO, or others that help you do it yourself and then give you all the instructions about how to make it legal, etc.


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## 7mm Reloaded (Aug 25, 2015)

I would do the Trust over a Will for sure. Eliminates any disputes between your children, everyone gets the same. I have 5 siblings and when my parents went we had "Zero" problems. I think it was 750.00


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## taxidermist (Sep 11, 2007)

I would do the Trust over a Will for sure. My folks did the same, and so have I.


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## shaner (Nov 30, 2007)

Vanilla, could you please give me a quick synopsis of will vs. trust?


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## backcountry (May 19, 2016)

Slightly different caveat.....I highly recommend setting up an advanced directive at the same time. Life can happen fast and sometimes we don't get to verbalize our end of life wishes. My MIL has one and I can't imagine making decisions without it. To be honest it seems like the bare minimum for such difficult decisions family will carry with them the rest of their years.

Seems like a lot of us are getting our affairs in order "just in case".


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## Vanilla (Dec 11, 2009)

shaner said:


> Vanilla, could you please give me a quick synopsis of will vs. trust?


Estate planning is WAY outside my area of expertise, but the basic difference in applicability is a trust helps avoid the probate process, and a will must go through a probate process. This is why a revocable trust is the pick of so many people these days. There are advantages and disadvantages to both, and it really depends upon the complexity of your estate and your beneficiaries.

Lots of good explanations for this online. You could probably know more than you ever thought you would (and more than I do after a full semester of estate planning in law school many years ago) after 30 minutes on Google.


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## shaner (Nov 30, 2007)

Ok, I will do that.
Thank you.


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## AF CYN (Mar 19, 2009)

Uhhhh... I just read your thread about being tested for Covid and now this thread about getting a will. Are you going to pull through? 8)


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## Fowlmouth (Oct 4, 2008)

Does a Trust supercede a will?


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## middlefork (Nov 2, 2008)

Fowlmouth said:


> Does a Trust supercede a will?


Generally yes. Trusts are more specific.

And yes I stayed at Holiday Inn.


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## Vanilla (Dec 11, 2009)

Fowlmouth said:


> Does a Trust supercede a will?


Either could supersede the other. Generally, the most recent one would take precedence, whatever it is. It would be very wise to state in the one you actually want to execute that you are revoking any previous wills/trusts/testaments, etc.

You don't want heirs having the headache trying to figure out what is what. Make it clear. You can do as many as you want and update them as you deem appropriate, just make clear what you're doing and what you're revoking.

Im telling the state bar that my pro bono work for the year is complete!!! :grin:


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## JerryH (Jun 17, 2014)

We set up a trust this past year. Kind of weird preparing to die at this age. But I have lost a couple of friends the last few years and I don't want to leave my wife & kids with a mess. We went through Elder Care in Kaysville to set up the trust. Eric had all the answers to all the scenarios that can and could happen. Great guy and glad we went through him.


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## bowgy (Oct 10, 2007)

Get some good recommendations, when going through my wife's family's trusts I found it so confusing and so many mistakes, and the first lawyer had cost the family about $5k twice, I went to our new lawyer and he agreed it was messed up. 

He got it all straightened out before my mother in law passed away and it only cost $1500 once.

I had him do mine right after.


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## Vanilla (Dec 11, 2009)

If someone is charging you $5k for a trust, then you either have an incredibly complex estate and the value of such estate means you won't miss the $5k at all, or you're getting ripped off. In my opinion...only.


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## bowgy (Oct 10, 2007)

Vanilla said:


> If someone is charging you $5k for a trust, then you either have an incredibly complex estate and the value of such estate means you won't miss the $5k at all, or you're getting ripped off. In my opinion...only.


Yeah, it was a mess, a lot of different properties and a business and the lawyer talked my father in law into setting up several family partnerships and several trusts, it was really confusing, he had wrong properties in wrong partnerships and wrong trusties over wrong trusts, we canceled all the partnerships and turned 4 trusts into one. Luckily before my mother in law passed.


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## ridgetop (Sep 13, 2007)

bowgy said:


> Get some good recommendations, when going through my wife's family's trusts I found it so confusing and so many mistakes, and the first lawyer had cost the family about $5k twice, I went to our new lawyer and he agreed it was messed up.
> 
> He got it all straightened out before my mother in law passed away and it only cost $1500 once.
> 
> I had him do mine right after.


This is why I'm asking for advise on a good contact.;-)


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## 2full (Apr 8, 2010)

My wife and I set up a will just over a year ago. It mirrors what probate would do. So it would not need probate. We kept it simple and easy. 
We will probably switch to a trust later when we are a little older. We were specific on some things. The big items like house and cabin they will share, and split the money. 
The only thing they will probably fight over is my .243 (it was my dad's and they all took deer with it). And my Road Runner. Think I'll sell it and buy me another Vette. Always said I'd have another Vette.


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## 7mm Reloaded (Aug 25, 2015)

Get the Vette ! A Trust you can write in anything you want someone to have specific anytime you want , then everything else "property- bank accounts- life insurances etc." Has to be sold and or divided up equally. Mine and my parents say if anyone protests they will get $10.00 . Now I want a national park cruiser ;-)


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## Critter (Mar 20, 2010)

One problem that I have seen recently is where a home/vacation property is shared by multiple heirs. One will want to sell it, the next one will want to sell one of them and keep the other one, another one will want to abuse the vacation property. Then when they all decided to sell it they will argue over the price to sell it at. I actually watched a family get torn apart because of this and none of them have talked to each other in a couple of years that I know of. And before both of their parents passed away the kids were always together.


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## Vanilla (Dec 11, 2009)

You can take all the issues out of it by being clear and specific. Then your heirs can only be mad at you. 

Or you can have chaos and watch the fireworks from the other side.


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## Packout (Nov 20, 2007)

Just my opinion, but a Trust is better than a will, even if one has few assets. Revocable of course so the originator maintains all control. A Will may still need to go thru probate, which in these times can take up to a year and if assets are complicated then you may have to pay an attorney to be involved. One can make a general Will and have it notarized if they just want something minimal for proof. 
Everyone should have a Living Will to direct medical desires in case of incapacitation. And let your family know where it is.


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