how to make a free trust?Or a low cost one?

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OR any similar acct to avoid credit company vultures.Wife is 60.ish,unwell,unable to deal with predatory types

Asked February 13, 2019

1 Answer

That is easy to do. It costs little to nothing. You should have one in New Mexico. A free trust keeps the probate process from taking effect. It also keeps predatory people at bay, whether they are family or other.

You can do it online or speak with a notary. You can also request a lawyer being present, but that might cost you.

What you do is fill out the appropriate documents. These documents include things like the trustee and who you want to leave your property and possessions to.

Take it a notary office in New Mexico. One of them can stamp and sign it for you. That will make it legal and binding. They do that for free. I had some documents that needed to be taken care of a few years back. I went in and they took care of everything.

You should also have a living will be drafted too. Think of the will as a backup to the documents you create under the free trust. That works great if you have anything that does not make into the actual will. Some people have additional property or possessions that they forget to include. You might be in that situation too.

Add that into the free trust and you should be taken care of, especially if your partner is not doing well with their health. You can add someone to take over as the power of attorney either with the will, the free trust, or both.

This should not cost you anything. You are filling in the information on the documents. The notary signs off on it. I do suggest that you speak with a notary or lawyer on the phone to make sure there is no fee. You can always look at your payment options if they do attach a small fee.

Answered February 15, 2019 by sunshine5

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