Wills, Trusts and Estate Planning
Through proper estate planning, the distribution of an individual's estate can be accomplished with fewer costs and complications. A good estate plan provides peace of mind and assurance that one's legacy is protected. The most important documents involved in estate planning are wills and trusts.
A will is a basic estate planning instrument, executed by an individual that disposes of that individual's property on or after his/her death. The will serves to instruct a Probate Court as to the distribution of that individual's estate.
A trust is a more advanced estate planning instrument created by an individual during his/her lifetime or upon his/her death. In simple terms, during one's life a trust serves as an entity to hold assets. Upon an individual's death, the trustee of the trust can distribute property held in that trust without opening a probate administration. Trusts can be as simple or as complex as each individual's estate planning needs require.
In addition to formulating a well tailored estate plan using wills and trusts our firm stresses the importance of advance directives, such as a durable power of attorney, a living will, and a health care surrogate designation. These documents serve to ease the burden that can sometimes befall family members in the event of a disability or long term convalescence.
Please contact our firm to ensure that you and your family are protected.