I live in Sioux Falls and have three children and seven grandchildren. Should I consider setting up a living trust?

There are many good reasons for setting up a trust while you're alive.  These trusts are commonly referred to as living trusts or revocable trusts and are often established because:

  • You want to ensure a more seamless management of your assets in the event you become incapacitated or otherwise unable to manage your financial care.
  • You own property in more than one state, so that your will would have to be probated in each of those states.
  • You want to avoid South Dakota's probate process.
  • You'd like to better ensure that your estate plan is kept private and not made a matter of public record.

Source:  The Vanguard Group, Inc.