Me and my husband are in our seventys.Shoule we have a trust fund for our four children? We do have a will.
by 
barbgeorge
ANSWERS: 3
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Absolutely, if you want them to avoid probate as much as possible.
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Have you ever heard of a living will? It might be worth checking into. Myself, I can't see working hard all my life, paying taxes, then having to pay more taxes on what I worked so hard for (and paid taxes on already). I've already opened trust accounts. You can set any conditions you want on them. Plus you can make other "investments" in THEIR names. It's your money. Do some research on a living will.It might be a better way to go. Make sure you know all the pros and cons first.
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You should talk to an estate planner. You probably don't want to setup a trust fund, but you may want to transfer your property to a trust. A trust simply transfers property before you die. This allows your heirs to avoid probate. It will also allow you to save some tax liability. However, if you have a large estate, you will likely not a void all tax liability. However, if this is the case, an estate planner will likely advise you to start gifting property while you are still alive. The specifics will depend on your personal situation.
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