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. 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. You may also be able to name people who will manage your estate in case of disability. A trusts attorney specializes in wills and trusts. 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.

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. 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. When you die, your will is filed with the court. 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. While a will is a legal document that specifies the disposition of property, a trust does not. It is important to have a will and trust executed properly to avoid unnecessary problems after death. 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.