Thoughtful Guidance for Wills and Trusts
The disbursement of your property and estate should be your decision. At Darrow Law Offices, we work with families to put together wills and trusts that meet your needs and goals, ensuring your property and assets are passed on as directed. It’s never too soon to plan. The best-made estate planning is done with a clear mind, not rushed, and with well-thought intentions. Contact us to learn more about will and trust agreements today.
The Two Types of Wills
There are two different types of wills, and both have different purposes. It’s a good idea for individuals and couples to have both since they each come into play at separate points in life.
The purpose of a living will is to provide instructions about medical care individuals should receive if they become severely ill or mentally incapacitated. While you and your family may discuss these situations when you are healthy, having a legal document ensures there is no doubt or concern from family members or medical personnel if one of these situations arises. The living will names an attorney to represent you and your interests as outlined in the will during this time.
Last Will and Testament
This is generally what people think of when they hear about a will. A last will and testament is written up and outlines how you want your assets distributed after your death. An executor of the will is named and responsible for carrying out instructions during the probate process to ensure all wishes are met.
Keep Family Matters Out of Probate With a Trust
Similar to a last will and testament, a trust lets you stay in control of your assets and financial situation until your passing and outlines how the assets and property should be dispersed upon your death. The benefit of a trust is that it avoids the lengthy process and expense of having your assets pass through probate court to be divided. There are three types of trusts:
This is the closest thing to a will and simply puts your assets in a trust to be dispersed upon your passing. It can be amended at any time.
An irrevocable trust cannot be changed. A common purpose is to remove certain assets from an estate for tax purposes.
A person with a disability may use a special needs trust for access to finances for specific requirements while still gaining the benefits of a trust.
Meet With a Wills & Trusts Attorney Today
Since 1990, Attorney Darrow has been assisting families with thoughtful and thorough wills and trusts to ensure individuals’ final wishes are carried out upon their passing. Death can bring uncertainty, worry, and second thoughts to families. Remove doubt and get peace of mind with an official will or trust for you and your family. Contact us today.