Should everyone have a living trust?
This question depends upon your age, your state of wealth, your family members, and other factors. However, regardless of your age or other circumstances, you can avoid court intervention when you become incapacitated or pass away if you have a revocable living trust. If you want your loved ones to be taken care of when you become incapacitated or pass away, you should consider having a revocable living trust prepared. Will there be estate taxes when my estate is probated? This depends upon the state or federal law at the time of your passing. In other words, the estate tax laws often change from year to year. Furthermore, each state sometimes imposes its own taxes on estates. This is why it is important to check with an attorney in your own state to see whether or not you will have any estate taxes or whether your spouse will have to pay estate taxes if you pass away.
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