Legal Question in Wills and Trusts in New Hampshire

Re: Estate Planning

A will is the most basic form of estate planning that you can do; yo set forth the manner in which you want your assets to be distributed at the time of your death rather than leave it to the legislature or courts to decide. As matters become more complicated, either through increased assets, a desire to minimize estate taxes, a desire to establish trusts to care for minor children, pay for school, or care for elderly persons, you need more involved estate planning. Whoever you choose to assist you and plan, be sure that they take the time to learn your financial situation and your goals. There is often "more than one way to skin a cat," so be sure to start off by explaining your desired endstate and work with your attorney to plan how to get there. I will caution you against purchasing a "living trust" from a marketer or salesperson... most of them do not understand how they work and fail to inform the buyers that they have annual tax consequences and filing requirements. Several of these sales schemes have been prosecuted by the Attorneys General of various states. Living trusts have their place as an estate planning tool, and a good attorney will work with you and your financial professionals to choose the right tools to build your estate plan.