Welcome back. We are here to talk more about living trusts. Understanding the differences between a trust and a will is key in determining which is best for your estate plan. We know this subject can get confusing. If you would like to speak with our attorney in Raleigh NC, call the office to schedule a consultation. We are happy to help you make informed decisions.
Living trusts are often used when individuals would like to make sure their children are taken care of after their passing. A living trust can offer instructions that establish provisions of when children may be entitled to the assets left to them in the trust. For example, parent’s may leave a special needs child specific instructions on how to use their inheritance so that their guardian may be able to carry out their wishes without question. The same may go for minor or adult children, as well. LIving trusts can offer individuals a way to be specific in how inheritance may be handled.
In some cases, living trusts may be used to keep money away from certain individuals. For example, grandparents may leave an inheritance for their grandchildren's college fund in a living trust. With specific instructions, the money left may only be used for college tuition. The grandchildren or their parents shouldn't be able to use the money for anything else.
We hope you find this information helpful when learning more about a living trust. If you missed our previous blog, be sure to check back there for more information about living trusts. You can also contact our office at any point to speak with someone about this document.
Attorney in Raleigh NC
You can start working with our attorney in Raleigh NC today to plan your estate and appoint an executor to take care of your estate when the time comes. We can also help you decide whether to choose a will or trust for your plan. This can ensure that you are protected and that your wishes will be carried out even when you are no longer able to express them. If you're ready to start planning today, contact our lawyer. We are here to help you.
Have you already created an estate plan? If you haven’t reviewed yours in several years, now might be the best time to get started. Our attorney is here to help you get your estate planning in order and ready should you pass in an untimely manner or become incapacitated at some point. It’s better to be safe than sorry when it comes to an estate plan. Contact our office.
