Estate Planning in Raleigh NC: Eldreth & Eldreth here to help!
A Trust and Will are often grouped together. So much so, that they may seem to be one-and-the-same. However, Trusts and Wills can be significantly different. While both are important parts of the estate planning in Raleigh NC process, deciding whether you need a Trust or a Will can be a complicated decision. Today we'll discuss some of the common reasons to choose a Trust over a Will.
Would you prefer to avoid an intensive probate?
When using a Will, probate must carry out the direction of the Will. A Trust may be used to bypass some of the more involved probate requirements.
Do you have a blended family?
If you have children that are not the children of your spouse, you may want to consider using a Trust rather than a Will. Trusts are more flexible than a Will, and may provide you with more control over your gifts.
Do your assets need to be protected from creditors?
Some trusts are able to protect your assets from creditors. These trusts might also be able to get the assets excused from certain liens.
The choice between a Trust and a Will might not be an easy decision. Though they are similar, one might be better for you than the other. You may miss small, but important, details regarding your estate planning. Your best option to make an informed decision may be to contact an estate planning attorney. For an estate planning attorney in Raleigh, NC be sure to contact Eldreth Law Firm, PLLC. Our lawyer in Raleigh NC will be able to help you make the decision that is right for you.
