This video is apart of our Ask an Expert Series where we take the top questions related to estate and end-of-life planning and ask one of the advisors from our Expert Network. This question is answered by Chris Jeter who is a founding partner of MJC Attorneys. You can watch the video or read the transcript below. Got a question to ask? Email us at firstname.lastname@example.org with the subject like "Ask an Expert".
Question: What are the top 3 things that families have that may require a trust?
Typically that I see are folks that have property in multiple states is one folks that have either high net wealth or complex distribution schemes. If you have multiple investment accounts, bank accounts, business assets, stock, you're you have a lot of assets in different areas, that's one. Or if you have a complicated distribution scheme, meaning you're in a second marriage, you got step kids, you want to make sure that you're kind of accounting for all them differently. That's pretty much the second time I would recommend it, and then the third time is just if you want to do something outside of what folks normally do, you want to leave money to a pet, you want to leave to certain institutions or something like that's typically when I see them.