The answer may really surprise you…

There are a LOT of people who think that EVERYONE needs a living trust…and a lot of those people:

(1) Come from states where most people DO need a living trust.

(2) Are relying on advice from people who live in states where living trusts are needed as a matter of course.

(3) Are relying on bits and pieces of things they’ve heard on the internet or read in books….

Here’s the short and sweet answer…

No. I do not believe that everyone in Tennessee needs a Living Trust.

Can they be helpful? Yes.  Can the be THE best planning choice in certain circumstances? Yes.

But Estate Planning is NOT one size fits all.   And the sad reality is, many attorneys around the country push these Living Trusts because they are very profitable for the law firm…. but as attorneys, we are called to serve our clients in a way that best suits their unique set of circumstances, not “maximize each sale.”

If I HAD to make an argument for the benefits of a Living Trust and how everyone could benefit from one, I certainly could.  But there are all sorts of different ways to accomplish your estate planning goals.   That’s why, in my Estate Planning Strategy Session, I do a deep dive with my clients to understand their assets & liabilities, their family dynamics, along with their financial and legacy goals… only AFTER gathering all of this information, can I make a recommendation on the different tools I have to accomplish their goals.

I hope this post and video give you something to think about and discuss with your attorney.  If you want to schedule an Estate Planning Strategy Session with me, you can do so HERE.

Note: this video (and article) are for Educational Purposes Only. It should not be construed as legal advice.  You need to speak to an attorney about what is right for you.