Talk About Trusts

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M I recently spoke with a young widow whose husband had no will and ‘they’ owned several properties.  Some are jointly owned with another partner.

V The result:  she is now being told that one rental property title will be 50% hers and 50% split with her children.  She is not receiving rental income as that money was going directly to an account without her name on it. She is still spending on rental repairs and title solution will be costly. 

M We can’t say often enough, always, always, create a will or a trust.  Even a simple one is better than none.  Young couple, please don’t procrastinate.  It’s the loving thing to do.