Wills and Trusts are two of the most crucial documents you will ever need to ensure you and your family’s interests and assets are protected and distributed correctly in the future. Even so, we’ve been surprised to find that these are the two documents most people haven’t even thought about, because death or incapacity seems too far-fetched for their individual situation.
Establishing a will in addition to a trust is especially important for those who have families with younger children, because it also determines guardianship of your children. It’s never too early to draw up a will and trust, since once it has been drafted you have the ability to go in and make changes as needed in the future.
So, what’s the difference between a will and a trust? Preparing a will gives you the power to make sure your assets are distributed the way you want and to whom you want in the event of your death. Whereas, establishing a trust ensure that your assets are managed and allocated the way you want in the event of death or incapacity. These documents can be used separately or in in conjunction with one another, but understanding the key differences can be crucial in making the best course of action.
We understand that choosing whether a will, trust, or both is right for you and your family can be a daunting undertaking. As your dedicated representative, we will make sure you fully understand all of your options from the start, while helping you continuously reevaluate your choices at every stage of life.