Date: Sat, 4 Oct 2003 04:01:57 CST
From: "S. L. Richardson" 
Newsgroups: misc.invest.financial-plan
Subject: Re: Living Trusts
	iQBVAwUAP36Mhvl/I4+O31e5AQGHJgH+MFayBy0vl3LNo4GU/+152ixAO3yON6c9
	X9Cngn6tEOjxiGhFb3ywm8M7r8DWRs0pVZycCCUHId2LcsL/fckCdA==
	=0P69
	tests=BAYES_01,PRIORITY_NO_NAME,QUOTED_EMAIL_TEXT,QUOTE_TWICE_1,
	      REFERENCES
	autolearn=ham version=2.53



>
> I think you have it backwards.  A Will requires a low level of
> capacity.  A trust may require a contract level of capacity, which is
> higher.  However, some people think that a revocable trust, since it's
> effectively a Will, should only need the same level of capacity as for
> a Will.

Not in Texas, where I am licensed.  Maybe in other states - about which I
have no idea.


> In the context of a $6 million estate, whether you pay $4,000 to
> create a revocable trust or (say) $2,000 to probate the Will, or both,
> is unlikely to be a meaningful part of the cost of the estate
> administration.

True, but was illustrating my point about the cost versus benefit analysis.