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. A successor trustee is often the same as the person named in the will. 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.

A will specifies the way your assets are distributed after you die. 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. The main benefit of a will is that it allows you to name guardians for minor children and other individuals with special needs.

While a will and trust may seem like the same thing, the two are not the same thing. 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. In the case of my late husband, the COVID-19 pandemic slowed the will-writing process. His trusts attorney accelerated the process, and my husband was able to die knowing that his assets were being cared for.

The first step in estate planning is a will. It outlines your beneficiaries and the rules of estate administration. Your will is filed with a court when you die. A representative will be appointed to distribute your assets as specified in the document. 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. A trust is not a legal document that outlines the disposition of property. 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.