Review of Do I Need a Will or a Trust
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Austin Okumu
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Review of Do I Need a Will or a Trust
[Following is a volunteer review of "Do I Need a Will or a Trust" by Taylor Willingham.]
In the text, Do I Need a Will or a Trust, Taylor Willingham wants us to learn that it’s better to transfer ownership of any property either via inter vivos transfer when one is still alive or via testamentary transfer upon death. In the text, it said without proper planning for the transfer of asserts one is likely to pay thousands of dollars which would have been of use on other things. According to the text, lawyers could be blamed for planning poorly for the transfer of assets from one household to the other. It`s evident that even those born outside of the family have a right of ownership of the deceased property just like those born within the family. Another connecting phrase is that it takes only three hours to have inter vivos or testamentary transfer ready. Property can only be transferred to children or grandchildren. A backup plan is always essential for better wealth management.
What I found appealing about this book were the illustrations used by Taylor. The chats and diagram explained further and in detail what the author addressed. Without the illustrations, it might have been hard to understand the big difference between inter vivos or testamentary transfer and especially the importance of early planning. Having a trustee to some point is very important. According to the book, two people belonging to one family due to poor planning started to fight to the extent of hiring a lawyer about selling a property. One wishing not to and the other to resell it and see her mortgages paid.
What didn't appeal to me because of this book was the family break-up. According to the text, an American left his family, travel to Australia, married a porn star, and even signed all his assert and property in her name. His wife and children got nothing.
I rate this book a 4 out of 4 stars. The language used is very simple and easy to understand. Examples are also drawn which makes readers evaluate easily some hard-to-understand subjects and sub-topics. And with the many examples and explanations, one can definitely understand the big difference between a Will and a Trust.
I would recommend Do I Need a Will or a Trust to a person who has assets and properties. In the text, Taylor wrote using a Philippine as an example; though the husband died the woman was only worried about not being deported and not what she and the husband had. Again, it`s advisable to give ownership to property or assert to a person under the age of 25 otherwise if the person is underage, such resources might be wasted away.
******
Do I Need a Will or a Trust
View: on Bookshelves | on Amazon
In the text, Do I Need a Will or a Trust, Taylor Willingham wants us to learn that it’s better to transfer ownership of any property either via inter vivos transfer when one is still alive or via testamentary transfer upon death. In the text, it said without proper planning for the transfer of asserts one is likely to pay thousands of dollars which would have been of use on other things. According to the text, lawyers could be blamed for planning poorly for the transfer of assets from one household to the other. It`s evident that even those born outside of the family have a right of ownership of the deceased property just like those born within the family. Another connecting phrase is that it takes only three hours to have inter vivos or testamentary transfer ready. Property can only be transferred to children or grandchildren. A backup plan is always essential for better wealth management.
What I found appealing about this book were the illustrations used by Taylor. The chats and diagram explained further and in detail what the author addressed. Without the illustrations, it might have been hard to understand the big difference between inter vivos or testamentary transfer and especially the importance of early planning. Having a trustee to some point is very important. According to the book, two people belonging to one family due to poor planning started to fight to the extent of hiring a lawyer about selling a property. One wishing not to and the other to resell it and see her mortgages paid.
What didn't appeal to me because of this book was the family break-up. According to the text, an American left his family, travel to Australia, married a porn star, and even signed all his assert and property in her name. His wife and children got nothing.
I rate this book a 4 out of 4 stars. The language used is very simple and easy to understand. Examples are also drawn which makes readers evaluate easily some hard-to-understand subjects and sub-topics. And with the many examples and explanations, one can definitely understand the big difference between a Will and a Trust.
I would recommend Do I Need a Will or a Trust to a person who has assets and properties. In the text, Taylor wrote using a Philippine as an example; though the husband died the woman was only worried about not being deported and not what she and the husband had. Again, it`s advisable to give ownership to property or assert to a person under the age of 25 otherwise if the person is underage, such resources might be wasted away.
******
Do I Need a Will or a Trust
View: on Bookshelves | on Amazon
