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A will is a series of documents that specify how your assets and property should be distributed upon your passing.
Wills can also name guardians for children under the age of 18, specify funeral/burial preferences, & appoint an executor to oversee the estate's administration during the event of your passing.
Trusts offer a level of control and flexibility over your assets that a will may not provide.
Trusts can be used to efficiently manage and distribute assets during your lifetime and after your passing, often avoiding the time-consuming and potentially costly probate process. Trusts can also serve as a valuable tool for protecting your wealth, providing for loved ones, and minimizing estate taxes.
Moreover, trusts can be customized to meet your specific needs and goals, whether it's ensuring the financial security of your family, supporting charitable causes, or preserving assets for future generations.
Probate is a very complex legal process, can vary based on the state in which you live, and can have costly tax implications.
Using an estate planning attorney during the probate process can help streamline the proceedings, protect the interests of all parties involved, and ensure that your estate is handled in accordance with the law and the deceased person's wishes.
It can also reduce the stress and burden on your family members during an already difficult time.
Designate someone to act on your behalf in financial, legal, or medical matters if you become incapacitated.
This can include durable power of attorney for finances and healthcare directives or medical powers of attorney.
Life circumstances change, and estate planning attorneys can help with periodic reviews and updates to ensure that your estate plan remains aligned with your wishes.