I'm getting ready to sell my apt buildings ,..I have few heirs or people I would like to leave my assets to.,One is to my adopted daughter and son,. the son isn't mentally capable to handle money but I do trust that the daughter will see to his care as she has,.

The other is to my secretary (absolutly NO physical hanky panky..but she has been wonderful in handling things,.I would have never been able to run things myself,..esp in the last 8 years. )

I'm thinking of at least 250,000 for her maybe more depending on how the places sell with the rest going to the daughter.

YES I WILL contact a lawyer but I'm not totally comfortable with the 3 I have used in the past for this and would like to know a bit about using a will or a trust in this situation,.I trust may of the people that have given me advice over the years and just looking fo a little input..

If you were not wanting to sell, I would tell you look at land trust approach, so you manage taking care of your family and associates from beyond the grave.

You want a trust as part of a complete estate plan rather than a will only. A competent estate planning attorney will set up a trust, financial POA, healthcare directive, healthcare POA, and pourover will.

I am so confused about the protection from medicad look backs. Here, there are seminars offered weekly on how to protect your assets via trusts. What am I missing?

I have done okay for myself in life. I truly hope should I not get run over by a bus and just continue to ripen into old age that I am able to stay at home and pay for assistance here if needed. BUT, I also am not naive and understand if I cannot receive the required physical assistance here that I may need to go to a facility. I am cheap and certainly don't want to pay that money. I want the money for my kids and grandkids.

My kids can have whatever is left over.

I plan to burn thru all I need.

Home health care is expensive on its own. I doubt much will be left if both of us have to go that route.

Have had family members who worked at various facilities for the elderly. All of them said they would never want to live there.

A land trust is strictly a place holder in title.

There is a two year look back so it is best to do the shifting well advanced of when you might need long term care. On average one half of us will need it. On average, the last 60 days of life will end up costing more than $500,000 in medical bills.

If you have assets in your own name - your heirs will be able to visit you and that maybe about it. The medical system is not your friend.

If you are looking for trust for more than asset protection - say privacy, consider using a personal property trust as your trustee.

The actual forms are not expensive. It does take some time though for YOU to figure out what you want to accomplish. Over time, what that objective may change so you can have the trust evolve with you/your family.

If for example, you have an adult child that is involved in an accident and can't make valid financial planning decisions, you can empower specific parties that you trust to look after them even beyond the grave. A will doesn't do a good job of doing that.