We are really enjoying having the new office. Some of the choices we needed to make reminded me of the choices that are made in Estate Planning. One of those was with the door frames. We wanted to paint them a different color. When we got estimates for painting, it was a lot more expensive than we expected, because the previous owner had used enamel paint, which makes it difficult to paint over. The painter was going to need to scrape off all the old paint before painting. We could also simply replace all the door frames. James and I had already decided that we would replace the door frames sometime in the future, but to save money, now we were just going to paint them. When we looked at it, it would have actually cost us more in the long run to have them scraped and painted and then replace them at a later date. This is a lot like the choice between a will and a trust. A will is a cheaper short term solution, but it actually costs your family more than a trust in the long-run. A trust saves your family the expense of probate and can save on estate taxes when the assets you have left your children are passed down to your grandchildren. A trust also avoids the need for guardianship if someone becomes incompetent. It also makes it easier on your family.
We are planning on having an open house in February after we have had a little while to settle in.