Set up a will may be a living trust
Have a few questions regarding the subject,
1. How do we know if we need a will, or we also need some kind of Trust? Are there guidelines in making this decision?
2. Should we see a lawyer (in what field s/he specializes?) or a financial planner? Or both? or a team with both type of expertise?
3. What type of preparation we need to do before seeing one?
4. We each had a few assets when we got married years ago; we never had a pre-nup done. Over the years we keep these assets under the same ownership, and build our joint assets.
5. We have a happy marriage and never have any financial issues between us or us and our children. Our children are young professionals and are self sufficient. Someone said we would need a post-nup, we are not sure what are the reasons for having one.
We want to do things right and are willing to pay for it; but we don't want to make things unnecessarily complicate. Your advice and suggestions would be truly appreciated.