Wills and Trusts – The Difference Between Them
The difference between wills and trusts can be overwhelming and confusing. When you don’t know whether or not set up a will or what the difference is between a living will and trust, then consult a wills and trust attorney for sound advice and counsel.
There are many benefits of wills and trusts, and while they can be difficult to discuss with loved ones, they are essential to protecting your estate, property, and family. Being able to select the heirs to your belongings upon death can leave you with peace of mind knowing that all of your affairs are in order and your loved ones will be taken care of. San Diego Estate planning groups are dedicated to clients and can help you throughout the process so that you make smart and confident decisions.
Benefits of a Will
The specific purpose of a will is to guarantee that your assets will go to the beneficiaries that you designate. A will is a valuable document that ensures your wishes are followed. A wills attorney can guide you in the process of creating a legal will that will hold up in court. One important thing to include in your will is a list of who gets certain possessions. Another benefit of a will is that a guardian for your children will be named in the event that something should happen to you. This ensures that no conflict arises between family members over who gets the children. In a will, you can establish a trust if your desire is to withhold assets or property until a designated time. Further benefits of a will are that one can list funeral wishes and name executors of an estate who will be in charge of carrying out the wishes designated in a will. To be sure that your will is a legal document that is followed exactly as you specify, contact an estate planning attorney.
Setting Up a Trust
Trusts are most commonly set up for those who want to leave an estate to their minor children who might not yet be ready to fully take possession. It ensures that those you are leaving your estate to are old enough to properly manage your assets. A trustee is designated to manage your money until a certain age is reached. There are several benefits of a trust such as tax breaks, avoiding the probate period, setting up educational funds, and protecting your estate.
Hiring an Attorney Who Specializes in Wills and Trusts
There are many websites or inexpensive forms you can print off and fill out when you decide to set up a will, but these wills could potentially not hold up in court should it come to that. A San Diego estate planning group will be sure to draw up a will that is properly drafted to meet your needs. An attorney who specializes in wills and trusts has the knowledge and experience to establish a will that expresses your wishes and ensures they will be legally carried out and followed.
What Happens Without a Will?
An untimely death that leaves a loved one without a will can be problematic. Instead of being sure that your loved ones receive your assets, the state will determine how your property is distributed, including bank accounts, real estate, and securities. Your children may suffer greatly if no one legal guardian has been named. Be prepared for the unexpected. If you are looking to draft a will and trust in San Diego, then don’t delay. Contact an estate planning attorney today.
Why Go with Our Experts?
Our estate planning attorney is an expert in the legalities that are necessary to create binding trusts and wills. Being in control of your distribution of wealth does not have to be complicated or stressful, and we are here to help in every way we can.
Guidance
We provide all of our clients with careful guidance and the utmost attention. We will clearly explain the difference between wills and trusts so you can make an informed decision about what gives you the most control over your wealth and so you can pass it down the way you want to see it distributed.
Knowledge
Our wills attorney has in-depth knowledge to take you from conceptualization to finalization. A wills and trust attorney can help with the process because in some cases, people want to have both legal documents in place. We are focused on your needs and make you a top priority, so when you reach out with questions, our attorneys are quick to respond.
Attention to Detail
For any legal matter, you must ensure that all of the documentation is filled out with attention to detail. Our dedicated and experienced lawyers focus on your goals and make sure that every T is crossed and I dotted. We never gloss over information or skip steps, but are thorough in each and every aspect of your trust or will.
What Your Next Steps Should Be
Contact a San Diego wills and trusts attorney today for a consultation to help you learn more and to get started. The process does not take a long time, but it is one that is taken seriously. We treat all of our clients with the utmost respect and look forward to helping you during this time.
Wills and Trusts
While it can be difficult to speak with your family about a living trust, San Diego residents will be at ease when they are prepared and have their finances and belongings in order. Our family trust lawyers are here for you to ensure that you get the attention you deserve during this time and that all of your questions are answered.
Our mission as wills and trust attorneys is to provide you with quality services, and not to simply take a large quantity of cases to make more money. If you require a living trust will attorney, San Diego residents should reach out to us to learn more about our services and how we can help.
Our Trust Lawyer Will Listen to Your Needs
A probate attorney will pay attention to each detail and listen to your goals to ensure that the finalized will and trust is exactly what you hope for. A living will lawyer and you will work together to organize your estate, property, and finances that you want to protect and you will be directed on each step to take. You want to ensure that you have a San Diego trust attorney on your side to guide you and make sure that all of the fine print is in order.
A Trust and Planning Attorney Will Answer Your Questions
You will have a lot of questions when you meet with a trust attorney in San Diego, and we are more than happy to answer these. Our experienced wills and trust attorney in San Diego will use clarity when communicating.
A probate lawyer understands that each person will be different, and we take that into account when helping you create a will and trust. Do not hesitate to call in a wills and estate lawyer because of cost. We make it affordable and provide a probate attorney in San Diego that is here for you.
Enjoy Peace of Mind Knowing Your Possessions Are Protected
You have worked hard to establish your estate and property, and a living will attorney will make sure that you have the resources and information you need to create one that you are comfortable with. It is important to us that you get the best trust attorney San Diego has to offer, and our services are designed for our clients. We would love to provide you with a last will and testament attorney that you can trust and rely on, and our team looks forward to being an asset during this time.
What is a will?
A will is a legal document or declaration created by an individual who wants to legally name another person to manage his or her belongings and estate upon the individuals death. Most importantly, a will provides in writing the distribution of an individual’s property upon their death.
What is a trust?
A trust, (sometimes called a living trust or living will) is an instrument which creates a direct relationship between two parties where a property is held by one party for the other. Trusts are created by settlors who transfer some or a part of his or her property to a trustee. That trustee holds the property for the benefit of the trust’s recipients.
Wills and trusts are commonly used in conjunction with one another to legally and flexibly control the outcome of one’s belongings and estates upon death or extended separation. Depending on your circumstance H & M recommend that you create a will and form a trust for yourself in order to control the outcome of your belongings. This will help direct what you own to the people that matter most in your life. San Diego wills and trusts can be formed by either a wills attorney or a trust attorney.
Benefits of Wills & Trusts
There are many benefits to having a will or trust as they both help you to control your estate and property upon death. Here are some of the most common benefits of having a will and trust:
You get to select the heirs of your estate and belongings.
A will or trust authorizes an executor or trustee to manage the distribution of your estate and belongings in order to avoid court intervention and costs.
You get to nominate legal guardians for children under 18 should you pass away before they become adults.
You can reduce federal estate tax liability by having a trust so that the government won’t take large amounts of your estate, property, or legacy.
You get to control the distribution of your wealth. You’ll be able to directly control the flow of your financial wealth to specific family members or charitable organizations.
Family businesses will be passed down to the proper individuals or authorities within the company in order to keep the business within your family name.
In many cases, forming a will or trust does not take a long time. However, being able to secure the outcome of your belongings for the rest of your life makes the time investment worth while.
San Diego estate planning groups will be able to help you get your belongings and estate in order for the future.
Getting a Will & Trust
An estate planning attorney will be able to help you conceptualize what you want to have in your will. Once you have everything about your estate and property in mind, you and your probate lawyer will work together to create and edit your will or trust until it is ready to be finalized. Some states may require a certain number of witnesses (usually two) that sign your will alongside you. Make sure that you have the fate of your belongings and estate in order as soon as possible.