JBL Financial Blog

How To Know If I Need a Trust?

Erin Lapidus Wednesday, October 25, 2017

We love sharing what questions our listeners are asking us, because quite frankly, everyone is most likely asking themselves the same questions.

Recently Tim emailed me and asked, “"I love listening to your show on Saturday mornings, thanks for sharing your knowledge. My question is, how does a married couple know if they should have a trust to protect assets etc.? Is there a rule of thumb I'm not aware of?”

My dad and I enjoy referencing our general rule of thumb: you need a trust, if you don’t trust. Think about it for a second…

So what did we suggest Tim to consider?

If you’re asking the question then perhaps it’s time to consult with an attorney. Basically, if you are uncomfortable with your beneficiaries inheriting all of your assets, with “no strings” attached, in terms of how they can take the money (all at once for example), then you need a trust to control the flow of assets.  If you are comfortable with your beneficiaries inheriting your assets and do not want to put restrictions on those assets, you may not need a trust.

Still interested in hearing more? Our November newsletter is out in a few weeks and we cover the complications of trusts and wills a bit more in depth.

Never hesitate to reach out with a question!


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This is a hypothetical example and is not representative of any specific situation. Your situation will vary