Page 18 Savvy Senior by Jim Miller I Have a Will – Do I Also Need a Trust? Dear Savvy Senior, My wife and I were recently talking about updating our will and wondered if we should also set up a trust. How do we know if we need one? --Planning Ahead Dear Planning, That’s an excellent question. A will is one of the most important tools in estate planning, but many people wonder if it’s enough, or if adding a trust makes sense. The answer depends on your finances, your family situation, and what you want your plan to accomplish. Here’s a simple way to think about it. What a will does A will spells out who gets your assets after you pass away. It also names an executor to carry out your wishes and can designate a guardian for minor children. The downside is that a will must go through probate, which is the court process that validates it and oversees distribution. Probate can take months and, in many states, becomes part of the public record. What a trust adds A trust works a little differently. A revocable living trust holds your assets during your lifetime and directs how they’ll be distributed after your death, without going through probate. Unlike a will, it stays private and lets a successor trustee step in immediately if you can’t manage your finances, which is useful in cases of illness, injury, or dementia. Trusts can also help with complicated family situations, like blended families or children with special needs, giving you more control over who gets what and when. The biggest challenge is that you have to move your accounts and property into the trust yourself, which takes time and care. Most people who create a trust also keep a simple “pour-over will” to catch anything that wasn’t transferred. Because trusts are more complex, they usually cost more than a will. Attorneys typically charge $1,000 to $3,000 for a trust versus $300 to $1,200 for a will, although costs vary depending on the estate and location. You can use do-it-yourself options like Quicken WillMaker & Trust, Trust & Will or LegalZoom to save money, but they’re generally best for simple situations. If your finances or family circumstances are more complicated, hiring an attorney is usually worth the cost. When a trust makes sense You might benefit from a trust if you own real estate – especially in more than one state – want to avoid the costs and delays of probate or prefer to keep your estate matters private. It’s also helpful if you have a larger estate, a blended family, or want to ensure someone can manage your finances if you become incapacitated. When a will may be enough If your estate is relatively small, your family situation is simple, and most of your assets already have named beneficiaries – like life insurance, IRAs, or bank accounts with pay-on-death or transfer-on-death designations – a will may be all you need. Some states also offer simplified probate for small estates, which can make the process quicker and cheaper. You don’t need a trust just because you have a will. But if avoiding probate, protecting privacy, or managing assets during incapacity is important to you, a trust is worth considering. Even a modest estate can benefit from a clear plan. Getting help If you don’t already have an attorney, a good estate-planning professional can help figure out what’s right for you. Two trusted resources are the National Academy of Elder Law Attorneys (naela.org) and the National Association of Estate Planners and Councils (naepc.org), both of which let you search for local professionals. Taking the time to put a plan in place, whether it’s a will, a trust, or both, can protect your loved ones, ease stress, and give you peace of mind now and in the future. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior.org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. THE MALDEN ADVOCATE–Friday, June 5, 2026 BHRC | FROM PAGE 17 public view on the thousands of pieces of legislation that have been filed. They note that the infrequency and brief length of sessions are misguided and lead to irresponsible late-night sessions and a mad rush to act on dozens of bills in the days immediately preceding the end of an annual session. During the week of May 2529, the House met for a total of 24 minutes and the Senate met for a total of four hours and 20 minutes. Mon. May 25 No House session. No Senate session. Tues.May 26 House 11:00 a.m. to 11:13 a.m. Senate 11:17 a.m. to 11:22 a.m. Wed. May 27 No House session. No Senate session. Thurs. May 28 House 11:00 a.m. to 11:11 a.m. Senate 11:08 a.m. to 3:23 p.m. Fri. May 29 No House session. No Senate session. Bob Katzen welcomes feedback at bob@beaconhillrollcall.com Bob founded Beacon Hill Roll Call in 1975 and was inducted into the New England Newspaper and Press Association (NENPA) Hall of Fame in 2019. Copyright © 2026 Beacon Hill Roll Call. All Rights Reserved. For Advertising with Results, call The Advocate Newspapers at 617-387-2200 or Info@advocatenews.net City Clerk’s Office 215 Pleasant Streets, Room 220 Malden, Massachusetts 02148 Phone 781-397-7116 www.cityofmalden.org City of Malden Massachusetts MALDEN CITY COUNCIL PUBLIC HEARING NOTICE The Malden City Council will hold a public hearing in the Herbert L. Jackson Council Chamber, Room 106 on the first floor of Malden City Hall, located at 215 Pleasant Street at 7:00 P.M. on Tuesday, June 23, 2026 on the petition of DMS Trinity, LLC on behalf of Charles Street Realty Trust 2020, Roseanne J. Spinney, TRS, seeking to amend the special permit granted in Case #77-25 allowing marijuana retailer in the Industrial 2 zoning district, to reissue the special permit and/ or transfer the rights authorized by the special permit to a different entity at the property known as and numbered 36 Charles Street, Malden, MA and also known by City Assessor’s Parcel ID #062 239 910. Petition and plans are available for public review in the City Clerk’s Office, 215 Pleasant Street, Room 220 and on the City website under Permit Application # CMID-040598-2021 at https://maldenma-energovweb.tylerhost.net/ apps/SelfService#/search By: Carol Ann T. Desiderio, City Clerk June 05, 12, 2026
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