If you haven't started and estate plan, might be the time. Making sure your state planning now will ensure what happens to your assets when you die. If you pass on without an estate plan, it might be up to the court as to whether or not you are with your belongings. Contact our estate lawyer in Raleigh if you have questions.
Understanding Trusts | Estate Lawyer in Raleigh
Many people begin estate planning with a will or trust. However, these two things are often confused. Over the course of the next few blog post, we are going to talk in detail about trusts. Then, we will talk more about wills. To start, we will talk about the difference between the two, briefly.
A will can be revised and is simple to write. However, a will writing needs witnesses. Within the well, you can name guardians for your children, property managers and explain how taxes and that should be paid. It is important to name an executive when you begin planning you're estate within a will. Also consider naming beneficiaries for inheritance and work within an estate lawyer in Raleigh to help.
A trust is like a will but also different. A living trust can be more complicated because you place your assets into the trust while you were living. However, you should be able to avoid probate in the situation. Challenges can sometimes happen and a trust will help with that. However, it's still important to work with an estate lawyer in Raleigh. Again, living trusts can be a bit more complicated than wills.
Learn more about living trusts be sure to visit back with our next blog post soon. We will have more information for you there.
Eldreth Law Firm, PLLC | Estate Lawyer in Raleigh
The amount of time it takes to create a living trust is only a little more than creating a will. Any costs you incur now from establishing a living trust will help your family avoid fees in the future if your estate is subject to the probate process. You can talk with an estate lawyer in Raleigh about your options and see if a living trust is the best choice for you and your family. Contact us to learn more about whether or not this option might work well for you.
