Question: Do I really need to create a will? And what difference will it make to me?
Answer: You should have a will if you are concerned about what happens to your property when you are gone. If you would like items of property to be inherited by a specific person then you can only be assured of this outcome if you create a will. A will lets you designate who gets what and how exactly your assets will be distributed. If you do not have a will all your property is subject to state law and will be distributed among those heirs entitled to a portion of your estate. A will is needed to identify all persons you would like to receive and or not receive a portion of your estate.
Question: How about a trust, should I also create a trust?
Answer: A trust is considered by many as a superior estate planning tool because it allows your estate to pass without the need for probate as is the case when only a will is used to pass assets by inheritance. A trust is useful because it also allows you to control your assets even after your death by specifying how those assets will be used or distributed after you are no longer able to provide for your family or loved ones.
Question: What about a will and a trust?
Answer: That is the best estate planning method available for persons who are not business owners and we can help you create a will and a trust suited to your familys needs. These two tools when used together will provide you with the peace of mind and assurance that your estate will not go to waste.
Question: What about taxes and what if I do own a business?
Answer: Taxes can be legally avoided through proper use of a will and trust. If you are a business owner there may be other methods available to pass your assets to your loved ones, reduce taxes and ensure that your estate is utilized to provide for your loved ones after you are gone.
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