Dear Monica: My elderly aunt owns a house and doesn’t have a will or a trust. What should I advise her to do? Pamela G.

Dear Pamela: It’s surprising how many people don’t have a will or a trust.  Except for laws governing how property is designated to a surviving spouse, a will is an essential way to assign your assets to your children or whomever you choose.  Without a will the state will do this.  In addition to a will, a trust gives one control over how assets are allocated.  It also allows faster distribution of them without probate. This is especially appealing to buyers if selling an estate’s property. 

It’s best to hire a lawyer to draft the will and trust documents,  and your aunt should do this as soon as possible.