Wills and Trusts

A will is a legal document that lets you decide who receives your property after you die, who manages your estate, and in some cases who cares for your minor children. When drafting a will, the drafter must follow certain steps to ensure that the will is enforceable. If you want help making sure your will is valid and says what you mean, talk with an attorney today.

A trust is a legal entity to which an individual transfers property, and a trustee holds and manages that property for the benefit of the beneficiaries. In some cases, you can be your own trustee while you’re alive and name a successor to take over if you die or can’t manage it. The trust sets out when and how the beneficiaries receive the property, and property held in a trust generally avoids probate. A trust only works for the property that’s actually placed in it, so talk with an attorney about whether one fits your situation.

Often, yes. A will isn’t only about how much you own. It lets you decide who receives what you have, who manages it, and can affect who cares for your minor children, instead of leaving those decisions to a court. Even a modest estate can include a home, a vehicle, and investment accounts, and a clear plan keeps your family from guessing. Talk with an attorney about what makes sense for your situation.

It depends on your goals. A will lets you name a guardian for your minor children if both parents die, and it often costs less to set up. A trust is a good tool for avoiding probate and can make transferring property after you die easier, but depending on the type of trust, it may limit your access to your property while you’re alive. Many people use both. Which fits best depends on your assets and your family, so it’s worth talking it through with an attorney.

No. A will still goes through probate, which is the court process that makes sure all debts are paid, property is properly transferred or sold, and other assets are conveyed as required. The point of a will is to replace what happens when a person dies without one, where the state decides who gets what. If you are looking to avoid probate, talk to an attorney about options like a trust, or beneficiary designations on your accounts.

A good rule is to review your plan every few years, and any time something big changes in your life. Marriage, divorce, the birth or adoption of a child, the death of someone named in your plan, a move to another state, or a major change in your assets can all leave an old plan out of date. An outdated plan can name the wrong person, leave out someone you care about, or stop doing what you intended. We can review your plan and help you make necessary changes.