Friday, February 27th, Attorney Candice Joy discusses Wills vs. Trusts.
One of the main questions we cover is whether our clients should sign up for a Will versus Trust.
We have a checklist that we use. The first consideration is the size of your estate. A larger estate might need to be in Trust so that probate is less of an issue.
Another consideration is real estate, especially if you own property outside of the state you live in. This again would be for probate avoidance.
Is privacy important to you? If so, a Trust might be more likely since anyone can pay a small fee and access your Will and read it. Trusts are not public documents.
If you want to make sure your children receive your property after your spouse passes even if your spouse remarries, then a Trust would be necessary.
There are also trust companies that can step in and assist with your assets. Our attorneys will review your entire situation before providing a solid recommendation for going forward.
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