Protect Your And Your Family’s Future With A Will Or Trust
A comprehensive estate plan is a strong estate plan. To create a comprehensive estate plan, you need to clearly communicate with your beneficiaries about who will get what after you pass. Wills and trusts can give you certainty and control over your asset distributions, even after you’re gone. However, working with someone who fully listens to and understands your wishes when creating these entities is vital.
At Danielle M. Campbell, Attorney at Law, PLLC, we know how important it is for you to fulfill your wishes. Our attorney has 18 years of experience in creating clear and thorough trusts for people like you across The Woodlands and Montgomery County.
How Do Wills And Trusts Differ From One Another?
While wills and trusts can serve similar functions, they have unique features that set them apart. Here’s what makes them different:
- Wills: Wills provide basic legal instructions for distributing your assets to your beneficiaries after you pass. If a beneficiary or someone else wants to dispute the contents of your will, they can do so through probate.
- Trusts: Trusts can also lay out which assets go to whom when you depart. However, they have a few extra features that make them slightly more complex than wills. Trusts allow you to transfer assets to designated beneficiaries directly. Plus, these assets don’t have to go through probate. And unlike wills, trusts are not public records.
Understanding these significant differences can serve as a helpful starting point when determining what you need to include in your estate plan.
When Do You Need A Trust Versus A Will?
If you’re like most people, a simple will will cover most of everything you want to give your beneficiaries. For instance, any bank accounts or personal items like jewelry, family heirlooms or paintings can all go in a will. However, if you have real estate properties, a business or an investment portfolio, you may consider putting these assets in a trust. A trust could offer you and your beneficiary better tax treatment, depending on the circumstances.
Want to learn more about your options? Call us at 839-895-7122 and our attorney, Daniella Campbell, can offer you knowledgeable guidance.
Work With An Experienced Texas Estate Planning Lawyer – Call Today
You’ve worked hard for everything you have. Including a will and/or trust in your estate plan can provide a future of certainty for you and your family. When you want to use legal tools to control your future, it helps to speak with a professional who can help you pursue your goals and objectives.