Wills & Trusts
It is often thought that a will can provide the protections of a living trust to avoid the probate of an estate, this is not true. When real property is involved, without a living trust and the proper transfer of ownership of assets, your estate is not protected and your heirs may need to go through the probate process to execute your wishes. Only a living trust will protect your estate from the probate process. Our team can assist you with understanding and preparing the documents needed to plan and protect your estate.
A will is one of the most standard and well known of all estate planning tools, and as part of a full estate plan a will can help ensure that your wishes are met and your assets protected upon your death.
As part of a full estate plan, a will provides direction for the distribution of assets and property upon your death. If there is real property in an estate, however, a will cannot stand alone to protect your assets, a living trust is necessary and a will serves as a supplement.
If there is no real property in an estate, a will may provide the necessary protection and direction for your estate upon your death. In any case, a will is an essential component of an estate plan.
A Living Trust is an instrument which takes ownership of your assets while you are alive, and which retains ownership after you have passed. While you are living, you maintain full control of and access to your assets as trustee, after your death, your designated successor trustee then takes control to administer your wishes.
A Living Trust is the best way to protect your estate and family from the probate process. A trust is also the best way to maintain control of your estate and your assets, even if you become incapacitated or disabled. With a living trust you can also make clear designations for the people who will care for you if needed, and for your children if they are young. You can nominate a guardian for your children, and a conservator for yourself, avoiding much of the difficult process of court appointment.
A trust provides not only protection from the probate process, but also from its public nature. A trust is private, both while you are living and after your death.
Special Needs Trusts
When it comes to those who may be disabled, either physically or mentally, there are some special estate planning tools that can provide for their support and protection. A special needs trust is an instrument that is designed for the ongoing benefit of special needs individuals, and can grant true peace of mind for everyone in your family. This may be a necessary component of an estate plan, and it is important to explore if an heir or loved one is disabled and may need special considerations for inheritance or control of assets.
We wish to prepare our clients and their assets to be protected both in life and in death; estate planning serves not only you but those you love most. Contact our team to learn more about how a living trust and a will can help protect your estate and care for you and your family.