A trust. Should we? Shouldn’t we? In our case its not about establishing a relationship with something. Its about creating something to do our wishes from the grave. A Trust.
Hubby and I have spoken often over the years on what to do with our belongings when we have moved on. Neither one of us were crazy about doing a will as they are so problematic, a headache for the surviving party and the courts get a significant piece of pie (the later a deciding factor in going with a Trust).
Establishing
Early on, in our younger years, we attempted to make sense of it all but quickly decided we weren’t ready to move. The cost, The work, What to go where, to who. So instead we left a note to my sister, in our safe, asking her to do somethings for us. Fortunately, it did not go that route. It would have been costly for her along with all the other inconveniences of dealing with legalities and courts.
We also didn’t have a whole lot to worry about then. We were still living our lives. We bought my grandfathers house but gave him a life lease. As long as he was alive we could do nothing with the property inside. But we did manage to clean it up outside.
Creating
Years passed, my grandfather did as well. We remodeled portions of the house and decided maybe we should revisit a trust again. We actually spoke to a lawyer this time. For some reason she attempted to talk us out of it; saying, “It costs more than a will, changes have to be made legally instead of adding a codicil in wiring to the will, and its more involved….”
What do you do when the attorney wants to do a will instead of a trust? It wasn’t what we wanted so we asked her to move ahead with the trust. We were to get names, addresses, phone numbers of parties involved in the will. We quickly petered out. That was 20 years ago.
Designing
As God would have it, in his timing, we are revisiting the option of a trust. Through out the years we have never lost sight of our immortality and what to do with our estate since we have no children. We have siblings but they have all cut their own path in life.
We decided to make our trust a system of “give backs”. We want our home to enrich others as it has enriched us. But how? Retirement was catching up to us, and had passed us. Now hubby and I are both retired wanting to end our days in a carefree way. Get up and go when we want, nothing on our plate but the next adventure. That is another post.
We solicited a different lawyer who listened to us and got what we were wanting. Now we are moving forward with the LIVING REVOCABLE TRUST. A trust that can be broken by us in the event that life takes it that way.
Helping a trust
We are looking into life insurance as a possibility of funding the trust. God showed us someone that would be a good overseer of the trust as well as Power of Attorney for us both. We have come across a beneficiary for the trust, and we’re taking actions to solidify a fluid situation.
By Gods Grace we’re establishing a trust
