Wills and Trusts

Wills and Trusts

Wills and trusts are both estate planning tools that can help ensure your assets are protected and passed on to your heirs.

A will is a written document expressing a deceased person’s wishes, to provide for a spouse, children, other loved ones, and pets after his or her death as well as to name a personal representative for the estate. A will becomes active only after one’s death. Wills are required to go through the probate process where a court administrator examines the will. This process has the potential to be lengthy if family members contest the will. A living will provide’s instructions should you become incapacitated and incapable of making decisions regarding your medical care.

Types of Wills:

• Formal Will
• Holographic Will
• Living Will
• Self-Proved Will
• Statutory Will
• Writings Intended as Wills

A trust is active the day it is created. There are many different types of trusts that have various purposes. The biggest difference between a trust and a will is that trusts are trusts are not required to go through probate when the grantor dies, and they cannot be contested.

Types of Trusts:

• Charitable Trust
• IRA Trust
• Irrevocable Life Insurance Trust
• Irrevocable Trust
• Living Trust (Revocable Trust)
• Special Needs Trust
• Testamentary Trust

Call us today to review your legal options as it relates to wills, trusts and estate planning. We are committed to providing you a positive experience all while seamlessly handling the meticulous details.