Trust Lawyer in Silverdale, WA
Deciding what will happen to your home, your financial assets, and your personal possessions after your passing can be a difficult process. Figuring out your end of life plans now may seem unnecessary and stressful. However, if you don’t take the time to make these decisions now, a court may end up dividing your property for you, causing stress and confusion for those you are leaving behind.
Differences Between a Will and a Trust
The terms “will” and “trust” get used a lot when discussing end of life plans, and it’s important that you can distinguish between the two before setting your estate plan in stone. The lawyers at THWB can help you determine whether your property would benefit from a will, a trust, or a combination of the two.
A will is a legal document that determines the distribution of your assets in the event of your death. It can also determine custody for any underage children in your care. A will can be contested and must go through the probate process, but is often more comprehensive relating to asset distribution and legal obligations than a trust.
Trusts (living, revocable, or special needs) don’t require legal assistance to write or make official, but should still utilize legal oversight. Keeping assets in a trust ensures that they are available for the beneficiaries once the trust is enacted. Assets in a trust are usually able to avoid the probate process, but risk conflicting with the will or other areas where the assets are owed, such as unpaid debts. It should be noted that a trust is not a replacement for a will.
Take Control of Your Assets
You can decide where your assets go even after you die, and you should. Instead of leaving such important decisions to the courts, get the assistance you need to make wise decisions concerning your estate by speaking with Templeton Horton Weibel & Broughton PLLC. THWB is dedicated to helping you through every step of your estate planning, and is prepared to assist you with such legal services as:
- Drafting a will
- Creating a living trust
- Creating business, education, retirement, and other trusts
- Drawing up health care and general powers of attorney
The decisions you make regarding your estate determine how your property will be divided and what estate taxes will need to be paid after your passing. Be sure that your wishes are carried out by consulting with a professional at Templeton Horton Weibel & Broughton PLLC today.