Sunday, April 19, 2009

Getting some serious paperwork done

Yep, Jaz just turned 1 now, and we finally finished up some long due paperwork. You know, the kind of worst-case-scenario type stuff that you never want to talk about because of "pantang". Seriously though, as parents now, we need estate plans to be inplace for the safety of your children. So, we finally wrote up a living trust for both of us courtesy of a fixed-price legal plan from work.
Interesting few factoids that we found out in the course of getting this done. Wills and living trusts are not the same, look it up on wikipedia to see the details but basically living trust allow you to go around the probate process versus just doing a will. Plus living trusts have have additional other things that you can "legalize", like financial & healthcare powers of attorneys. Wills are cheaper for sure, but with this fixed price legal plan, it defintely made the living trust option cheaper for us.
Anyways, its finally done, so now we can sleep easy now that this is taken care of. :)

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