If you've done any estate planning AT ALL, you know that you need a "Living Trust" - but before you can create one, there are a few concerns...

Do you really understand what a trust is all about? Your family's future depends on your answer to that question!

If you schedule an appointment with your attorney and ask, he (or she) will be happy to explain everything to you. After all, giving legal advice is what they do and charge for.

They know trusts inside out, but unless you ask the questions the right questions they have no way of knowing what needs to be explained and what you already understand!

The end result is, they spend a lot of BILLABLE time explaining things you already know - or worse, they assume you know something and don't explain it at all! You end up with an estate plan you dont really understand.

Personally, when it comes to my family's welfare, I want to know EVERYTHING!

If you ask, your attorney will explain how a living trust can help your estate avoid probate. So what, you say? Why should I care?

Well, probate can cost tens of thousands of dollars - dollars that you wanted to leave to your heirs not to the attorneys and the court system.

Bypassing probate will also speed up the process - so your heirs can have almost immediate access to the money, vs. waiting several years while your probate slowly winds it's way through the system. Could your family survive 2 years without any income? Did you know they might have to?

Is privacy a concern for you? If you ask, your attorney will fully explain that wills are open to the public and ANYONE can read yours! Would you want your enemies reading your will?

Do you need a "spillover" will? Probably, and if you ask, they'll explain all that for you. Do you know what a spillover will is? Do you need one? Why?

Your attorney will explain what types of property should be included in a "Living Trust" and what types should not! How to move property in and out, what the tax ramifications are and so on...if you ask.

Did you know a "Living Trust" can help you with your estate management - while you're still alive?

My point is, there are a lot of issues that your attorney needs to cover - at $200...$300...$400 per hour!

Wouldn't it make sense to understand the difference between "revocable" and "irrevocable" trusts, spillover wills, what happens when you sell, refinance, add, and subtract property, durable power of attorney, and many other issues before you get to the attorney's office? With just a little pre-planning and research you can save a ton of money and feel more secure that you really understand your estate plan.

Your attorney doesnt mean to rip you off, they're just doing their job - and their advice is valuable. But...do you really think theyre going to recommend that you do a little research ahead of time - or will they just cheerfully charge $200 - $300 an hour to explain it all to you?