Legal Question in Wills and Trusts in Kentucky
Trust
If you have an up to date will and your beneficiary info is up to date is it necessary to have a trust? Thanks
Asked on 1/07/08, 3:02 pm
1 Answer from Attorneys
Gregory Napier
Troutman & Napier, PLLC
Re: Trust
Trusts are never necessary. They are useful, however, with large estates where tax planning is necessary. They are also helpful in minimizing or avoiding probate. Finally, they can be used to extend the control of assets by the person (Testator) past their death.
If any of the above might apply, you may want to talk to an attorney to see whether a trust would be helpful in your particular situation.
Answered on 1/08/08, 12:03 pm
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