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 spouse, an adult child, or a close friend is the usual successor trustee. 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. 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.

A will specifies the way your assets are distributed after you die. You may also be able to name people who will manage your estate in case of 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. 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. If the will is a revocable document, the beneficiary can change it at any time.

A trust is similar to a will. A trust, however, has 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. For such matters, you should consult an experienced lawyer. It is important to have a will or trust notarized, as it is necessary for compliance with state laws.