• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
logo

The Edwards Law Firm

Estate Planning For All Generations

  • phone-icon (904) 215-3550
  • phone icon (904) 672-7600
  • Schedule a Free Consultation
  • Home
  • Who We Are
    • About Our Firm
    • Attorney and Staff Profiles
  • How We Can Help
    • Business Owners & Asset Protection
    • Estate and Gift Tax Figures
    • Family-Owned Businesses & Farms
    • Incapacity & Caregiver Support
    • LGBTQ Estate Planning
    • Medicaid & Elder Law Planning
    • Pet Planning
    • Probate & Trust Administration
    • SECURE Act
    • Special Needs Planning
    • Wills & Trusts
  • Elder Law
    • Are You A Caregiver?
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • Docubank
    • Estate Planning Resources
      • Estate Planning Checkup
      • Definitions
      • Reports
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate Planning Techniques
    • Elder Law Reports
    • Frequently Asked Questions
      • LGBTQ Estate Planning Frequently Asked Questions
      • Incapacity Planning Frequently Asked Questions
      • Frequently Asked Estate Planning Questions
      • Trust Administration & Probate Frequently Asked Questions
    • Pre-Consultation Form
    • Special Needs Resources
    • Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • The Mourner’s Bill of Rights
      • Trust Administration & Probate Definitions
  • EVENTS
  • BLOG
  • Reviews
    • Review Us
  • Contact Us

Short and Sweet is Not Always Better

May 31, 2011 by The Edwards Law Firm, P.A.

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.

Primary Sidebar

Free Estate Planning Worksheet

There’s a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you’ll be one step closer to getting yourself and your family on the path to a secure and happy future.

FOLLOW US ONLINE

Footer

The Edward Law Firm

Jacksonville
3030 Hartley Road, Suite 210
Jacksonville, FL 32257
Phone: (904) 215-3550
Secondary phone: (904) 672-7600

ST. AUGUSTINE (By Appointment Only)

1750 Tree Boulevard, Suite 9
St. Augustine, FL 32084
Phone: (904) 824-1750

Map/Location

Jacksonville FL estate planning office
Map

Office Hours

Monday  8:30 AM – 5:00 PM

Tuesday  8:30 AM – 5:00 PM

Wednesday  8:30 AM – 5:00 PM

Thursday  8:30 AM – 5:00 PM

Friday  By Appointment Only

The information on this website is for general information purposes only. Nothing on this or associated
pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This
information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

  • Privacy Policy
  • | Disclaimer
  • | Site Map
  • |
  • Powered by American Academy of Estate Planning Attorneys
© 2023 The Edwards Law Firm. All Rights Reserved.