rock beats scissors and trusts beat wills
I am often asked by friends, relatives and panhandlers about wills and estate planning. My response is always: get a trust, I did. Rather than repeat myself, I decided to post about it and tell people to see my blog for details. ABL is all about efficiency.
Although wills can cost as little as $25 (and up to $150 or so), trusts can range from several hundred to a few thousand dollars. As the old adage goes, you get what you pay for (unless you retain me, in which case you get a steal). Rebecca Monte of Chelus Herdzik did my trust - and I cannot recommend her more highly (http://www.cheluslaw.com/CM/AttorneyBios/profile_Monte.html).
Several reasons to get a trust versus a will. Trusts avoid probate (i.e., years and a percentage of the estate - probably a few thousand in legal fees and costs). This makes trusts much cheaper in the long run. Trusts are private (wills are a public record). Trusts are more flexible in terms of making changes and selecting guardians for children. Trusts, however, require you to have a trustee (and likely alternates) whom you, well, trust.