Response Paper
Discussion One
I support the arguments presented in discussion one because they highlight the benefits and ease of having a trust. Ideally, the trustee a person appoints gains authority to distribute your wealth or assets after your death and as instructed. I agree that a trust eliminates the probate costs, time-consuming, and exhausting procedures. However, the choice does not exempt you from expenses like hiring an attorney, especially when one has vast wealth or properties. The writer recommends trust because the distribution of inheritance or assets can occur even when one is alive. The advantage eliminates chances for contest from dissatisfied beneficiaries. Furthermore, it provides a transparent way to transfer properties. It is also less expensive because a person can oversee proper documentation within a short period. The process can take months, if not years, if one dies without transferring wealth beforehand.
Discussion Two
The discussion reflects the significance of knowing appropriate estate planning processes. It reveals how one can go about property distribution when they have no blood relatives to claim their assets. The couple entrusted their wishes to a caregiver who would gain power of attorney over their trusts and wills. The writer’s mother has specific information that she must keep safe. She also has burial plans, which are part of the process. I gather that the writer’s mother understands the protocols when she is not around, or her husband is incapacitated. In my opinion, the writer feels that having such knowledge and experiences helps one prepare for future uncertainties better. The discussion demonstrates vital elements when considering estate planning. However, experience plays a significant role in having instructions delivered based on individual wishes.