• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • Communities We Serve
      • Elizabethtown
      • Frankfort
      • Jeffersontown
      • Matthews
      • Middletown
      • Prospect
    • Meet Our Team
  • Services
    • Asset & Business Planning
    • Elder Law & Medicaid Planning
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA & Retirement Planning
    • Legacy Planning Services
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
    • Young Families
  • Resources
    • Client Resources
      • Business Succession Planning Checklist
      • Estate Planning Seminars
      • Estate Planning Worksheet
      • Is Your Estate Plan Outdated?
      • Kentucky Retirement Resources
      • Louisville Elder Law Resources
      • Louisville Probate Resources
      • Presentations
    • Elder Law Reports
    • Finding the Right Estate Planning Firm
    • Frequently Asked Questions
      • Estate Planning Frequently Asked Questions
      • LGBTQ Frequently Asked Questions
    • Newsletters
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Blog
  • Contact Us

Gersh Law Offices, P.S.C. | Louisville, KY

Estate Planning | Medicaid | VA

Connect with us today(502) 423-7023

Attend a Free Seminar
Home / Estate Planning Articles / Short and Sweet is Not Always Better

Short and Sweet is Not Always Better

May 31, 2011

When you compare a do-it-yourself Living Trust with one that was prepared by a qualified estate planning attorney, one of the first things you’re likely to notice is that the attorney-prepared trust is long. And it might not be so easy to read.

There’s a good reason for this. Lawyers don’t write legal documents just to annoy non-lawyers: we write them in order to address as many potential legal issues as possible. When it comes to estate planning, there’s any number of contingencies to prepare for.

Here’s one way to look at it: what if you want to add a new porch to your home? Would you entrust the job to a carpenter whose toolbox comes stocked with only a hammer and a saw, or would you want a craftsman who comes prepared with all the necessary tools to survey the job and do it right the first time? When a qualified estate planning attorney drafts your trust with all the contingencies in mind, you have the equivalent of a fully-stocked toolbox, ready to address a full range of concerns that might arise in the years ahead.

For example, what powers will your Trustee have? State law typically provides a list of default powers afforded a Trustee, and an average do-it-yourself Trust references these default powers. However, this list is far from exhaustive, and there are countless real-life scenarios that can test the limits of a do-it-yourself Trust and cause turmoil for your loved ones. For instance, do you want your Trustee to be able to mortgage your home to pay your child’s tuition? What about to pay medical expenses? These issues are generally not addressed in default provisions. Without express permission in the Trust, a mortgage company is likely to be hesitant to let your Trustee sign on the dotted line.

Consider another scenario: on its face, naming beneficiaries is a deceptively simple task. Just pick who you want your assets to go to, and your job is done. Unfortunately, life can prove more difficult than that. For instance, imagine you want your property to be divided equally among your children Andy, Bob, and Carol. It seems easy, but what if Bob dies before you do? Should his share of your property go to his descendants, or should it get divided between Andy and Carol? And, if Bob’s share goes to his descendants, exactly who are they? It’s not always an easy call. For instance, what if Bob has natural children and step-children? Are they all treated equally? The waters can get muddied very quickly, and a well-planned Trust can eliminate a good bit of expensive legal wrangling.

These issues are just the tip of the iceberg. Qualified estate planning attorneys have experience in dealing with their clients’ real-life issues. Anticipating these issues and providing clarification and solutions ahead of time means that, while a good Trust document might be lengthy, it is also more likely to result in your wishes being carried out without complications. When it comes to Trusts, short and sweet is not always better. A qualified estate planning attorney can help you establish a Trust that is thorough and effective.

Other Articles You May Find Useful

Leaving assets to a Beneficiary
Leaving Assets Can Be Tricky – Part 3
Leaving assets to a Beneficiary
Leaving Assets Can Be Tricky – Part 2
Leaving assets to a Beneficiary
Leaving Assets Can Be Tricky
Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: “HIPAA” Powers
Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: Power of Attorney for Healthcare
Sign your Financial Power of Attorney and Healthcare Power of Attorney
The Basics: Financial Power of Attorney

Primary Sidebar

FREE ESTATE PLANNING WORKSHEET

Download our free "Protecting the Future" worksheet to get started!

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • Twitter
  • Linkedin

Testimonials

5 star
Client Review
September 18, 2020
    

I have been a client of Cochran Gersh Law Offices since 2005. I can’t say enough good things about them. Absolutely first rate! Thanks to the team, my estate and trusts are set up and my family won’t have to deal with an unorganized mess when I am gone.

default image
– JIM

Where We Are

Cochran Gersh Law Office
916 Lilly Creek Road, Suite 102
Louisville, KY 40243
Phone: (502) 423-7023
Fax: (502) 423-1108

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 5:00 PM
Tuesday9:00 AM - 5:00 PM
Wednesday9:00 AM - 5:00 PM
Thursday9:00 AM - 5:00 PM
Friday9:00 AM - 12:00 PM

Map

map for Cochrangersh Law Offices, P.S.C. office

Footer

  • Privacy Policy
  • Sitemap
  • Contact Us

Connect with Us

  • Facebook
  • Twitter
  • Linkedin
footer-logo

Cochran Gersh Law Office
All Right Reseved.

Attorney Advertisement

© 2023 American Academy of Estate Planning Attorneys, Inc.