Welcome back. We are here to talk more about the various aspects of estate planning. Today, we will discuss wills and living trusts. We will also talk about which document may be best for your situation. There are several different types of trusts that you may be interested in including in your estate plan. Our previous blog talks about one of the most common types, a living trust. If you have questions, contact our law firm, Eldreth and Eldreth, PC to learn more.
A living trust can be used in place of a will. We previously mentioned that a living trust allows you to do everything a will can, but assets are placed into a trust while you are living. A will allows you to document each of your wishes for what happens to your assets in the future. You’re also able to document information about funeral arrangements, guardianship, real property, and more.
It can be difficult to choose between a will and a living trust during estate planning. This is especially true for those that are working on their estate plans for the first time. Our estate lawyers in Cary NC can help with this. We will talk with you about both documents and how one might be more beneficial than the other, depending on your situation.
A trust works outside of probate. Probate court settles guardianships, wills, and trusts. However, a living revocable trust can avoid probate court. It’s also possible to make changes to a living trust. Some other types of trusts may not be changed.
In the end, choosing between a will and a living trust is your decision. However, it’s important to know that our lawyer is here to help. We can discuss all of your options in a way that can help you make the best decision for your situation. To talk with us about this decision, contact our law firm today.
Also be sure to check back soon for another installment of this series. Our next post will focus on powers of attorney.
Are you considering estate planning? If so, congrats. We hope this information helps you decide to start estate planning today! Remember, you're never too young to start. Call now to learn more. Also, be sure to check back soon. Our estate lawyers in Cary NC will have more reasons why you should start your estate plan now, instead of later, no matter what your age is.
As always, feel free to contact us with any questions or concerns you may have about estate planning. Also contact our estate lawyers in Cary NC to schedule a consultation if you have yet to start estate planning. It’s never too early to make plans for your wishes upon death. In addition, Eldreth Law Firm, PLLC is here to help you with all your legal matters, whether it be estate planning, trademarking, copyrighting, or DWI issues.