Would you believe that some lawyers will try to set you up with a trust that is better for them than it is for you? If the lawyer sets you up with a testamentary trust, it's a guarantee that your estate -- everything including your business -- will go through probate after your death. I call testamentary trusts "the attorney's retirement plan." The problem is I have lots of clients with these trusts tell me they will avoid probate. It's not true. They have been sold a bill of goods. But, why?

The lawyer who sets up a testamentary trust for you is almost guaranteed to be selected by your family to handle the probate after you die.  But wait! It gets better. A testamentary trust is only laid out in your will. The probate court actually establishes the trust, and the court controls the trust forever. The ongoing representation requiring your attorney will quite possibly go on for decades. That equals a great retirement plan for the lawyer.

Be aware of what kind of trust you use, and why.  Check out my article at http://www.legalees.com/testamentary-trust/ and the accompanying YouTube video.

Lee Phillips

P.S. My Accumulation and Preservation of Wealth set walks you through all the documents needed to set up your trust and will. Plus, it tells you step by step how to make sure you avoid probate, estate taxes, family fights, and other issues when a family member dies.