Wills and Trusts: What Type of Attorney Handles Wills and Trusts?

A will can include various types of trusts, such as ones for minors, spouses, and disabled individuals. When the original trustee dies or becomes incapacitated, the property is distributed to the successor trustee. 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. 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. Our trusts attorney helped speed up the process to ensure her client's assets were divided as she desired.

The will defines how your assets are to be distributed after you pass away. 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 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 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.

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. 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. However, a trust serves a different purpose. While a will is a legal document that specifies the disposition of property, a trust does not. 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.