Do I need to set up a Trust or more than a handwritten Will?
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Do I need to set up a Trust or more than a handwritten Will?
I am divorced. I have 1 daughter who is the sole beneficiary and listed as such on all my
financial affairs. I only have a handwritten Will.
Asked on March 25, 2018 under Estate Planning, Idaho
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
What you are doing is a bit of financial planning and that is best done in person and with a professional. So I would suggest you sit down with someone. A Trust can be used for many reasons: to make sure that property is secure if a young person inherits and you want it for college, etc. If everything you have has a beneficairy designation form and she is listed then she will inherit directly. The Will is good if you left anything out by oversight. If you have a Trust set up then generally you di a "pour over" Will which pours over anything left over in to the Trust. The handwritten Will is valid if written in your hand (not typed), signed and has two witnesses that saw you sign sign it too. Good luck.
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