Catering Wills And Trusts To Your Family’s Needs
Wills and trusts are the most common estate planning tools that families choose to protect their assets and provide for their loved ones. However, it is important to understand the differences between these two documents, and how they work in your estate plan.
At The Sexton Law Firm, we can help clients craft wills and trusts that meet their family’s individual needs and help protect their best interests. We provide honest and comprehensive guidance to help families make informed decisions about what estate planning tools best fit their circumstances.
Establishing A Will
A will is generally the foundation of an estate plan. The creator of the will provides instructions of who should receive their property and assets in the event of their passing.
It is one comprehensive document that should cover all of a person’s assets and wishes, as it only goes into effect after they have passed away. Passing without a will is called dying intestate, which gives California the power to distribute your assets how they please. That is why it is critical to craft a will personalized to you and your family.
How Can A Trust Benefit Your Family?
While trusts are not an essential tool like a will, they are still helpful. Many people are under the impression that only the wealthy can benefit from using trusts in their estate plan, but this is a myth.
Like a will, a trust can also pass down assets to beneficiaries. However, there are many kinds of trusts, and you can establish as many as you wish.
For example, people often transfer ownership of their home through a trust, since trusts can avoid California probate and other legal complications. You can assign the ownership of your home, or any other asset, to a trustee. The trustee holds this ownership until you decide when the trust should go into effect and transfer ownership to your beneficiary.
Contact Us For Knowledgeable Guidance
There is no room to make mistakes in your estate plan. You want to make sure it is effective. It is also important that it upholds your wishes for your family and complies with California laws. That is why you need an experienced estate planning attorney to guide you through the process. We are here to help with all your estate planning needs.
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