Wills and Trusts: What Type of Attorney Handles Wills and Trusts?

You can have many types of trusts in a will, including ones for minors and spouses as well as those for disabled people. The property is transferred to the successor trustee if the original trustee becomes incapacitated or dies. A successor trustee is usually a spouse, adult child, or close friend. Beneficiaries can be the same as the ones listed in a will. The person named in a will's successor trustee is often the same one. The trust can be made for a young beneficiary, such as a minor.

A trust gives you more control over how assets are distributed upon your death. With a trust, a beneficiary can be given disproportionate shares based on their needs. Due to the COVID-19 outbreak, it took us a while to write a will. Our trusts attorney helped speed up the process to ensure her client's assets were divided as she desired.

A will specifies the way your assets are distributed after you die. It may also name individuals to manage your estate in the event of your disability. A trusts attorney specializes on trusts and wills. A testamentary trust is a legal document that names a trustee to manage your estate. The main benefit of a will is that it allows you to name guardians for minor children and other individuals with special needs.

While a will and trust may seem like the same thing, the two are not the same thing. There are many ways these documents can be created. A will is typically divided evenly among heirs, while a trust gives a beneficiary the ability to distribute assets based on their needs. The COVID-19 pandemic, which struck my husband in the late years, slowed down the process of writing a will. His trusts attorney accelerated the process, and my husband was able to die knowing that his assets were being cared for.

The first step in estate planning is a will. It lists your beneficiaries and details the rules for estate administration. When you die, your will is filed with the court. A representative will be appointed to distribute your assets as specified in the document. You can have a complex trust or a simple one-page document with instructions on how to distribute the assets. If the will is a revocable document, the beneficiary can change it at any time.

A trust is similar to a will. However, a trust serves a different purpose. While a will is a legal document that specifies the disposition of property, a trust does not. To avoid any problems following death, it is crucial to have a trust and a will properly executed. For such matters, you should consult an experienced lawyer. Having a will and trust notarized is very important, as it is required to comply with state laws.