I was having a conversation with a client last week and they were telling me that someone they know, that used a different lawyer, created a Trust without a Will because the other attorney said they didn’t need it.

My first question was “does this attorney do only estate planning?”

“No,” they replied.

“I believe that,” I said with a bit of a chuckle.

See, Trusts ALWAYS have a Will that rides along with them, just in case.

What is the “just in case” for?

Just in case something doesn’t get into your Trust.

I know what you’re thinking. You’re thinking “well, I’m incredibly responsible and on top of things, so I’d never forget to put something in my Trust. I probably don’t need a Will.”

And you’d be wrong. 🙂

The Will doesn’t just cover you in case you forget to put something in. It covers you in case there are assets you could never have known about, or that aren’t in your name yet, when you die.

Here are two examples.

First, let’s say someone dies and leaves you an inheritance. A year goes by and those assets are still in probate and have not been transferred to you yet.

Then you die.

Those assets are still yours, and will be considered part of your estate.

You could not have put them into your trust because they were not transferred to you yet.

Your Will makes sure those assets get into your Trust.

Example two?

Let’s suppose you were killed in a car accident through no fault of your own. The other driver owes your family money for being reckless and taking your life.

The process of administering that claim has to happen via your estate.

And your Will, again, needs to make sure those proceeds make their way into your trust.

That’s why you always have a Will riding shotgun with your Trust.

It’s there just in case it’s needed, to make sure your plan works exactly the way you want.

Have a great week!

Sincerely,

Christopher Small
Owner
CMS Law Firm LLC

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