A will goes into effect only after you die and still passes through probate. A will allows you to name a guardian for children and to specify funeral arrangements, and covers any property that is only in your name when you die. It does not cover property held in joint tenancy or in a trust.
Regardless of your age, or the size and complexity of your estate, an estate plan can accomplish the following:
Understanding the estate plan options that are right for you can be a complex undertaking. This is why it is so important to have an experienced Estate Planning Attorney review and prepare your Estate Plan.
Proper preparation and planning of your estate is the most important step you can take to make sure that your final property, and health care wishes are honored. Estate planning is also a sure way to ensure that your loved ones are provided for in the event incapacitation or death occur. While people often procrastinate their Estate Plan for a variety of reasons, a comprehensive estate plan is critical in resolving a number of legal questions that always arise whenever a death occurs. These questions can include:
A trust takes effect as soon as you create it and can be used to begin distributing property before death, at death or afterwards. A trust covers only property that has been transferred to the trust and passes outside of probate, so a court does not need to oversee the process, which saves time and money. Unlike a will, which becomes part of the public record, a trust can remain private and can be used to plan for disability or to provide savings on taxes.
An estate consists of all property owned by you at the time of your death, this can include:
The official process of proving of a will, which is overseen by the Court.
Please see the Fees Tab for pricing and further information about Estate Planning Packages.
THE IGG LAW FIRM