My husband did some work for my brother's wife's father (try figuring that one out). The guy is an attorney and suggested we trade services for payment. Since we aren't being sued - for now anyway - I wasn't down for the deal. The attorney recommended we set up a trust to protect our assets in the event one of us dies.
Chris moved forward with the deal, did the work, and the attorney sent the trust paperwork.
Line 1: Total Estate Value.
Not only is that number negative, it's six figures. I'm not sold I want family (distant or otherwise) knowing we are so underwater, our neighbor is Sponge Bob.
Lying to an attorney about finances when drafting a trust is about as brilliant as lying to police about drug possession when you've got a bong on your dining table but I still see it on COPS all the time so... I'm adopting Lehman Brothers style accounting practices to protect my reputation.
Poor baby Cash will be disappointed to discover mommy and daddy mortgaged his future for a San Diego zip code and the house value listed is actually the value in Mexican Pesos.
But maybe the San Diego real estate market will rebound by that time. And maybe pigs will fly, and maybe I'll lose weight from a steady diet of oreos, and maybe...