How Wills & Trusts Serve Your Estate Planning Needs
As you sit down to plan for your passing, there are many questions to consider. First and foremost, let us commend you for thinking about your estate in advance and creating a plan for your loved ones. As you evaluate your needs and desires for your estate, you should look for an experienced attorney to facilitate your planning needs and help you navigate the many options you have at your disposal.
At Hill & Watchko, LLC, our attorneys focus primarily on estate planning, including the important area of preparation of trusts to benefit minor children. Our experience lends us a rare insight into will and trust planning that benefits our clients immensely. If you seek a trustworthy and comprehensive estate planning resource, contact our office at 770-450-4480.
Understand The Difference Between Wills And Trusts
In many cases, the first step in empowering you to make a wise choice is understanding how wills and trusts do and do not serve your interests. Below are brief explanations of both:
- Wills provide guidance to a person you choose to be your executor (the person responsible for administering your estate). You can name what should be done with assets like your home or savings, including gifting them to a loved one or to a charity or organization. Wills also allow you to name guardians for your children. Wills are good options for individuals without large or complex assets or for whom ongoing maintenance of property is not a primary concern.
- Trusts create an ongoing structure for administering your property. Inside of a Will or a Revocable Living Trust, trusts provide an outline for who can use your property or obtain money and the circumstances in which that person may use that asset. Trusts can offer insulation from creditors, divorces, and predators. Trusts are a good option for individuals who require their property to serve an ongoing purpose or who want to spread out the distribution of their assets over time. Revocable Living Trusts are often used as a method to keep an estate out of probate.
Any property not named in a will or trust can be subject to probate law. Creating a will or trust can efficiently ease the administrative burden of your estate and preserve both your property and your wishes.
Schedule Your Appointment
As you plan for the future of your estate, you will be confronted with many logistical challenges. You will be asked to decide if and how you want to insulate your estate from taxes and probate proceedings. Speak with our attorneys to ensure your estate plan is well considered. Dial 770-450-4480 or reach us online.