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 are the same as those listed in a will. A successor trustee is often the same as the person named in the will. The trust can be made for a young beneficiary, such as a minor.

A trust allows for more flexibility in distributing assets upon death. A trust allows beneficiaries to be granted disproportionate shares according to 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.

The will defines how your assets are to be distributed after you pass away. It may also name individuals to manage your estate in the event of your disability. A trusts attorney specializes in wills and trusts. A testamentary trust is a legal document which 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.

Although trust and a will may appear to be the same thing, they are different things. There are many ways these documents can be created. A trust allows beneficiaries to make decisions about how assets are distributed. In the case of my late husband, the COVID-19 pandemic slowed the will-writing process. 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. Your assets will be distributed according to the instructions in your document by a representative. You can have a complex trust or a simple one-page document with instructions on how to distribute the assets. The beneficiary can modify the will at any time if it is a revocable document.

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. You must consult an experienced lawyer for such matters. Having a will and trust notarized is very important, as it is required to comply with state laws.