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. When the original trustee dies or becomes incapacitated, the property is distributed to the successor trustee. 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. With a trust, a beneficiary can be given disproportionate shares based on their needs. My wife and I wrote a will and it took some time due to the COVID-19 epidemic. However, our trusts attorney was able to speed up the process and ensure that all of her client's assets were distributed as she wanted.

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 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. 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.

A will is the basic first step in estate planning. It lists your beneficiaries and details the rules for 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. 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 in function 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. It is important to have a will or trust notarized, as it is necessary for compliance with state laws.