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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Trust Recommendations
 
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Vomik
Jul 29, 2003

This post is dedicated to the brave Mujahideen fighters of Afghanistan

Droo posted:

Besides the cost of probate (which I know can run pretty high at like 2% of the total estate value) what are the other problems people have with it?

I mean I guess paying $20k in legal fees on your $1,000,000 inheritance is kind of annoying, but from the perspective of the dead person :shrug:

Edit: tried to look up the benefits of trusts again and came across this video https://www.youtube.com/watch?v=c0KCzSiGLx8, which makes me think that trusts are mainly about controlling the lives of your beneficiaries and generating fees for "professional trustees". Maybe I would understand if I had kids I guess.

depends on the trust, but you can protect your assets such that if you're sued they can't take money from your trust. you can put your house owned by the trust as well to protect it. You can have your trust as your only beneficiary such that there is less likelihood of people committing fraud to try to get to your estate. the income on investments will be separated from your income so you aren't paying your marginal tax rate for investment gains. there are lots of reasons.

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The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Trust Recommendations