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

A will can include various types of trusts, such as ones for minors, spouses, and disabled individuals. When the original trustee dies or becomes incapacitated, the property is distributed to the successor trustee. A spouse, an adult child, or a close friend is the usual successor trustee. Beneficiaries can be the same as the ones 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. My wife and I wrote a will and it took some time due to the COVID-19 epidemic. 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 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. Fortunately, his trusts attorney expedited the process and his client was able to pass away knowing that his assets were being taken care of.

The first step in estate planning is a will. It outlines your beneficiaries and the rules of estate administration. Your will is filed with a court when you die. A representative will be appointed to distribute your assets as specified in the document. A trust can be very detailed, or it can be as simple as a single page with instructions for distributing the assets. The beneficiary can modify the will at any time if it is a revocable document.

A trust is similar in function to a will. However, a trust serves a different purpose. A trust is not a legal document that outlines the disposition of property. 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. It is important to have a will or trust notarized, as it is necessary for compliance with state laws.