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Dispelling Common Myths About Living Trusts


Most people have a general idea of what a Last Will and Testament is and the purpose it serves. However, if you mention establishing a Living Trust, many people will look at you
quizzically with no idea what you're referring to, or they'll mistakenly claim that a Living Trust is reserved for "rich people." This is not the case. In fact, there are many misconceptions surrounding Living Trusts. Below are some of the most common myths about 
Living Trusts  and important facts you need to know.

Myth No. 1 - I Don't Need a Trust Because I am Not Wealthy

This is, by far, the most common misconception surrounding trusts - they are only worthwhile for people who are wealthy. Not so. The benefits of having a revocable living trust in an estate plan are plentiful and may actually wind up costing you less than the traditional Last Will and Testament. How? Well, the costs associated with probate and court conservatorships/guardianships (which a living trust can avoid) may actually wind up taking a higher percentage from estates of smaller size than simply administering your estate through a trust. There is also the added benefit of being able to manage an estate privately without forcing your family to deal with a court. Actually, creating a trust based plan can have a greater impact for smaller estates. Typical example is if there is a stroke, dementia, Alzheimer's then the long term care expenses will erode the estate completely if you have not done proper planning ahead of time.

Myth No. 2 - Living Trusts are Costly to Create

Compared to what? If you or a family member incur a long term care health issue your costs could be hundreds of thousands of dollars without proper planning. A well-counseled and detailed living trust may have a higher upfront cost when compared to drafting a cookie-cutter Will but over the life of the plan we have found the costs overall are consistently lower than doing very little up front and letting the chips fall where they may.  It is important to spend a little extra time up front to think through common challenges that  aging people face and preparing for these issues in advance (long term care, navigating health care options, navigating living options, which resources are suitable for you, asset protection for the spouse or family, etc.). You are paying for a plan not just documents. Assets also need to be titled properly in advance to assure a smooth transition. Word processed documents alone don't achieve this goal.  When you factor in probate costs, the costs of a conservatorship if you become incapacitated and the costs of a guardianship if you leave assets to a minor child, the costs associated with a Will can actually wind up being much higher than the costs associated with established a trust.



Most people never expect to get divorced. They love their spouse and anticipate spending the rest of their lives in marital bliss. Unfortunately, the data indicates this is not the norm. In fact, in the United States, nearly half of all married couples wind up getting divorced,  according to the American Psychological Association
This is why it is important to be prepared and have as much information at your disposal. Below is a general overview of how a divorce can impact your estate plan.

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Is Dementia Caused by Chronic Sleep Problems?

Researchers appear to have discovered a potential link between sleep deprivation and an increased risk of developing dementia. Researchers notes that levels of amyloid-beta protein in the bloodstream increased during waking periods and declined during sleep. This is important because amyloid-beta protein can be found in the brain plaques that are prevalent in patients with Alzheimer's disease.

Patients with dementia often suffer from sleep apnea for much of their life, including chronic snoring and sleep disturbances. Many experts believe sleep apnea is directly correlated to the development of severe dementia. For example, studies have shown that 90 percent of Alzheimer's patients reported at least five respiratory events per hour of sleep.


Video Spotlight
Bobby Provides an Overview of the Unique Estate Planning Process Utilized by InSight Law 



Attend an InSight Event

Truth About Estate Planning (Evening Session)
Date: May 23, 2018
Time: 7:00 pm - 9:00 pm
Location: InSightLaw's Ashburn Office
Event Description: Most people don't know what to expect from an estate planning attorney, let alone know the right questions to ask. In our experience, most families who have completed their estate plans don't fully understand their legal documents and the serious impact it can have on their loved ones. The Truth About Estate Planning™ Program will prepare you to deal with your planning concerns and examine your goals without the time pressure of making decisions.

Truth About Estate Planning (Morning Session)
Date: June 20, 2018
Time: 10:00 am - 12:00 pm
Location: InSightLaw's Ashburn Office

Truth About Estate Planning (Evening Session)
Date: June 20, 2018
Time: 7:00 pm - 9:00 pm
Location: InSightLaw's Ashburn Office

Truth About Estate Planning (Afternoon Session)
Date: June 29, 2018
Time: 12:00 pm - 2:00 pm
Location: InSightLaw's McLean Office

 InSight Law, PLLC | 703-654-6019 | nna@insightlaw.net | www.insightlaw.net
Offices in Ashburn and McLean, VA and Denver, CO
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