Posted on Feb 16, 2020
PO3 Phyllis Maynard
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Through exposure and learned information, I see the benefit of doing all three. In some states, inheritance taxes will eat an inheritance into minimal dollars left. Then in some cases, the heirs are ungrateful. I have found those assets that yield immediate dollar value (bank accounts) is best given before death or to make a beneficiary POD (paid on death). As for houses, property, stocks, if the beneficiary is on the paperwork it gives them ownership (no inheritance tax complication). In my opinion and my decision making, the combination of all three yields a greater benefit to the survivors. BUT ALWAYS SEEK LEGAL ADVICE FOR YOUR SPECIFIC SET OF CRITERIA because there are cases where trusts come into necessity.
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Responses: 13
SCPO Morris Ramsey
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A Shared property trust is a good way to go.
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CWO3 Us Marine
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5 y
Any property is good, especially land. Not making any more in our lifetime...Mars maybe in future
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CWO3 Us Marine
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You can donate up to around 12 k to anyone you want, as many as you want, once per year. It's around there. A trust is cheap too. A solid will always works, usually. Greed is bad and leads to probate.
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PO3 Phyllis Maynard
PO3 Phyllis Maynard
5 y
CWO3 (Join to see) I'll bet my son will laughing all the way to the bank, only child :0)
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CWO3 Us Marine
CWO3 (Join to see)
5 y
He's blessed with a good Mom.
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SGT David A. 'Cowboy' Groth
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Distribute before death, less of a mess in the long run.
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PO3 Phyllis Maynard
PO3 Phyllis Maynard
5 y
SGT David A. 'Cowboy' Groth less of a mess big time!
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TSgt Larry Johnson
TSgt Larry Johnson
5 y
Only problem is if you don't die, and outlive your savings/income. A will is a must, and a trust for the big things and guns is another great idea.
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SGT David A. 'Cowboy' Groth
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