I just had a client come into my office to sort through their mother’s estate. The mother had a will, but her estate is a mess. Why is this? A will is just not enough, but unfortunately it is all most people have. And by most people, I mean the people that have anything at all. I would say that 2 out of 10 people I talk to have a will, and the other eight have nothing at all.
What you should have is a trust. A trust or a series of trusts is the way to go. Once established, a trust is more easily maintained, and it keeps the lawyers out of it at death. A will only serves to get attorneys back involved. A trust is a little more expensive now, but it will pay off big down the road. Get your estate plan done ASAP. Oh, and get a trust.

Peter Dunn a.k.a. Pete the Planner® is an award-winning financial mind and a former comedian. He’s a USA TODAY columnist, author of ten books, and is the host of the popular radio show and podcast, The Pete the Planner Show. Pete is considered one of the foremost experts on financial wellness in the world, but he’s just as likely to talk your ear off about bass fishing.