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. The person named in a will's successor trustee is often the same one. A trust can be created for a minor beneficiary.

A trust allows for more flexibility in distributing assets upon death. A trust allows beneficiaries to be granted disproportionate shares according to 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.

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 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 variations on how these documents are 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. 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 lists your beneficiaries and details the rules for estate administration. Your will is filed with a court when you die. 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. The beneficiary can modify the will at any time if it is a revocable document.

A trust is similar 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. For such matters, you should consult an experienced lawyer. Having a will and trust notarized is very important, as it is required to comply with state laws.