October is National Estate Planning month, which may be more important than you think. It's a time when individuals and families are reminded of the importance of creating or maintaining a trust or will. One myth is that you have to be wealthy or have a substantial real estate portfolio in order to have a will or trust. But nothing could be further from the truth. For instance, if you have minor children then a trust or will is extremely important.

On this episode, Mitch Mitchell joins us on the On Your Side Podcast. He's a lawyer for a company called Trust & Will. He explains everything you need to know about estate planning, pitfalls to avoid and how much it will cost.