Wills and Trusts
The only way to control the distribution of your assets is to have some level of estate planning set up before you die. The simplest method to accomplish distribution of your assets after you die is through your Last Will and Testament. Another layer of planning would be the implementation of a Trust, whether Revocable or Irrevocable to work in concert with your Will. Our lawyers have over 50 years of combined experience in planning, drafting, and managing these estate planning mechanisms.
Even without the function of a Trust, the Will provides you the ability to pass certain items of property to specific people and sets forth both the Fiduciaries you desire to implement your plan as well as the Guardians to take care of your children. With the right planning, the death of the first spouse can be managed without the Probate Court’s assistance and unnecessary costs.
Implementing a Revocable Living Trust can assist you in avoiding Probate Court costs, Executor Fees, and Attorney’s Fees as you would be exposed to in taking the Will through probate court. You can decide who gets what, how much, and when they receive it. You retain complete control over the assets in the Trust during your lifetime and upon your death, the Trustee must follow your wishes regarding disbursement and utilization of your funds/assets.
Even if you have a very simple financial portfolio, a Revocable Living Trust can be an affordable way to provide you with peace of mind. If you have a complex financial portfolio, our lawyers are trained to assist you in navigating the level of planning that will be the best fit.