Quote:
Originally Posted by Jim1mack
First marriage. 47 years. One adult child. Mortage. After we both pass our child is listed as the beneficiary on our investment and bank accounts. Quit Claim Deed includes our child. Our will shows everything going to our child. Our child is our POA. Living will is basically DNR.
Don’t know what we may be missing. Without bringing up any extenuating circumstances - do we need a trust?
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A trust protects you from your estate having to go through probate . All your bank accounts, life insurance and the deed to your house should list the trust as your beneficiary . The trust should include a transfer on death for your house to the surviving spouse. After the last surviving spouse passes the title would be transferred to the trust .