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 can be the same as the ones 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. 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. However, our trusts attorney was able to speed up the process and ensure that all of her client's assets were distributed as she wanted.

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 on trusts and wills. A testamentary trust is a legal document that names a trustee to manage your estate. A will allows you to name guardians and individuals with special needs as guardians.

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 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.

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. 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 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. You must consult an experienced lawyer for such matters. Having a will and trust notarized is very important, as it is required to comply with state laws.