Will & Trust
1 in 6 Americans experience a will or trust contest after a loved one dies.
A will or trust contest is a legal battle over the distribution of an estate. These contests can be costly and time-consuming. Statistics show that more than half of Americans do not have a will.
This means that their assets will be distributed according to state law, which may not be what they would have wanted.
Estate Planning Is For Everyone
Estate planning is important for everyone, not just retirees or the wealthy. While people may think about it more as they age, the reality is that we can’t predict our lifespan, and unexpected events can happen at any age.
For families with modest assets, good estate planning can have an even greater impact as the consequences of poor planning can be more detrimental to their financial well-being.
Do You Have an Estate?
Nearly everyone has an estate. Your estate includes everything you own such as your car, home, real estate, bank accounts, investments, life insurance, furniture and personal possessions.
When you pass away, you’ll likely want to have control over how your assets are distributed to the people or organizations you care about. To ensure your wishes are followed, it’s important to provide instructions on who should receive your assets, what they should receive and when they should receive it.
Estate planning involves making these plans in advance and taking steps to minimize taxes, legal fees and court costs. By planning now, you can make the process easier for your loved ones later.
Will or Living Trust: What's Best For You?
A will outlines how your assets are distributed after death, but probate is required, which can be time-consuming and costly.
A living trust takes effect immediately. It helps manage assets during one's lifetime and after death, avoids probate, and saves one's heirs time and money.
Not sure which is best for you? Schedule a free consultation today and let’s create a plan that fits your needs!