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. A trust can be created for a minor beneficiary.

A trust gives you more control over how assets are distributed upon your death. A trust allows beneficiaries to be granted disproportionate shares according to their needs. My wife and I wrote a will and it took some time due to the COVID-19 epidemic. 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. It may also name individuals to manage your estate in the event of your disability. A trusts attorney specializes in wills and trusts. A testamentary trust is a legal document which names a trustee to manage your estate. A will allows you to name guardians and individuals with special needs as guardians.

While a will and trust may seem like the same thing, the two are not the same thing. 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. His trusts attorney accelerated the process, and my husband was able to die knowing that his assets were being cared for.

A will is the basic first step in estate planning. It outlines your beneficiaries and the rules of 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. A trust can be very detailed, or it can be as simple as a single page with instructions for distributing the assets. If the will is a revocable document, the beneficiary can change it at any time.

A trust is similar to a will. However, a trust serves 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. It is important to have a will or trust notarized, as it is necessary for compliance with state laws.