Legal Question in Wills and Trusts in Iowa

What are the advantages of having a trust instead of just a will? Approximately how much would it cost to have a trust made up. The estate woul mainly consist of US savings bonds, CD's, savings, home and car totaling under approximately $500,000 divided between 3 children.


Asked on 8/25/10, 5:40 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

I think you will need to consult an attorney who specializes in such matters. It's out of my area of expertise-although I do not see the advantage because you would not be paying estate taxes on this estate as it is less than the floor amount-used to be $700,000 and I think it's more now, and tying up the assets of the estate in a trust might prove difficult to undo to the satisfaction of the heirs.

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Answered on 9/01/10, 7:33 am


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