Wills and Trusts Are Ideal For Ensuring Your Wishes are Carried Out
June 2, 2015
When you have a family and loved ones, it is important to create wills and trusts that will help to ensure your wishes are carried out when you pass away. Many people assume their verbal word is enough, but in reality, if you don’t create the right legal paperwork, the state law will determine who gets what and where your children end up. Don’t let the future of your family be placed in the hands of a judge who doesn’t know or care like you do. We can help you determine the right way to carry out your wishes.
The Importance of Wills
Wills are created to determine where your assets end up in the event of your death or complete debilitation. In your will, you get to decide where everything you own, physically and intellectually will go. It is actually an exciting and beneficial process. In your will you will have the opportunity to state where your property ends up, what guardians will care for your children, who will manage your assets until they are given to your children, and who will execute the terms and demands of your will.
The Importance of Trusts
A living trust is an arrangement you will create that moves your assets into a trust. The trust is an entity just like a business. Once in the trust, documents determine what person or people will hold the legal title to your property after your death. A person called a trustee will ensure that your wishes are carried out. The benefit to having a trust is that your property will be legally in their charge following your death, rather than in the charge of a probate court. When your property and wishes go to probate court, it can be months before your inheritors receive what is due them. If you have designated a living trust, the process will be smoother, quicker, and you will save money since much of your estate will be exempt from probate.
Wills and trusts determine who gets your assets and how they are distributed. If you do not have the proper wills and trusts set up prior to your death, the government and people you do not know or trust will be in charge of distributing your property and determining what is best for your family.
Provide the right management of your assets by choosing a living trust. You will save on estate taxes and probate expenses, and you will have more flexibility in the ways your assets are distributed. Your will can serve as a guideline for those who will carry it out. You will be able to legally list all of your wishes so that your loved ones can be properly cared for following your death.
Don’t underestimate the power of wills and trusts. When you want your wishes carried out exactly as you planned, there is no other way to make this happen legally. Even if it seems like your possessions do not hold much worth, you will be shocked to see their value laid before you and how you would be able to powerfully provide for your family even after your death.