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I'm a 42 single male without children in the State Of California. I don't own any property but I have over 1 million dollars in assets. Some of it is in retirement but the majority of it is in financial accounts. Would a will or a trust be more appropriate in this situation? Or neither? I have already designated my beneficiaries through the financial institutions that have the money.
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What you have done may be sufficient. But in some circumstances, a will or trust might be better. For example, if any one of the beneficiaries is under 18 or if one of the beneficiaries passes away before you.
Answered on Apr 22nd, 2021 at 9:25 AM