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We're getting to the point in life where I'm thinking it might be wise and justified to setup a trust. If we were to pass we'd have a sizable estate ($2m in investments, $4m in life insurance, $1m in real estate). Main goal would be to avoid probate. Vanguard and Fidelity are the go-to for investing but is the same true for trusts? Most of our investments are already in diversified vanguard funds. My research seemed to indicate that vanguard won't do any real estate which is annoying because I don't want to setup two trusts. Any particular companies or services I should check out? Any trust services that target financially savvy DIYers?
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Jul 6, 2019 21:40
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| # ¿ May 16, 2024 10:32 |
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Yep, we have kids so that definitely complicates it. If we suddenly left our planned guardians with our five (!) kids, we'd need to make sure they'd be able to take care of them. They are quite responsible with money, but I don't know I'd fully trust dropping seven million in their laps. I'd like someone to make judgement calls about what is truly needed to support the kids (i.e. bigger house, occasional trip to Disney, etc.). I also don't have a totally clear plan or idea around how the money shifts when the kids turn 18, so also something I probably need the lawyer's help with. We found a local company that looks decent and offers good digital experience with experienced lawyers so I went ahead and setup a consultation!
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Jul 12, 2019 04:44
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