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 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. The trust can be made for a young beneficiary, such as a minor.

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.

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 in wills and trusts. 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. 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.

A will is the basic first step in estate planning. 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. If the will is a revocable document, the beneficiary can change it at any time.

A trust is similar in function to a will. A trust, however, has a different purpose. A trust is not a legal document that outlines the disposition of property. 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. It is important to have a will or trust notarized, as it is necessary for compliance with state laws.