A ‘poor man’s trust’ may be a poor estate plan

Dear Liz: I am 85 and my wife is 76. We have a house free of mortgage worth about $ 1 million. We have market investments above $ 4 million and life insurance of $ 1 million. We do not have a trust, just a will. Our financial advisor says that we do not need a trust because we have named both of our…

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