Wills and Trusts

Wills and Trusts2019-01-16T07:48:16+00:00

Estate Planning Help From A Lawyer: Establishing A Will And Trust

It is important to take the time to create a will or trust to determine how you would like your assets to be handled upon your passing. Estate planning documents can help you ensure that the beneficiaries you desire to inherit your belongings as you intended them to. They also allow you to leave behind directives on how you would like your funeral or other arrangements to proceed.

Will

A will, or a Last Will and Testament, is a document in which you declare your preference what you want done to your assets – such as money or owned property like a house, car, furniture, art, or other valuables – upon you passing. You can have them distributed among your children or other surviving beneficiaries or donated to a charity.

A will can be extremely important to have for individuals with children. Aside from asset distribution, you can also name a guardian for your minor children.

If you do not have a will in Florida, the state will determine how your assets will be distributed and will make decisions regarding any minor children based on what the court believes is in the best interest of the children.

Trust

A trust is agreement created by the grantor (you) that describes how a designated trustee should manage your assets for the benefit of one or more of your beneficiaries. A trustee can be yourself, any family member, friend, financial advisor, attorney, or other trusted individual you name within the trust. The trustee is required to manage the assets according the guidelines set by the grantor and should be done in a manner that is in the best interest of the beneficiary.

There are many types of trusts, but they all have a main goal, to help your beneficiaries avoid the process and costs of probate before they can begin receiving benefits from your estate.

An Estate Planning Attorney’s Role In Wills And Trusts

An estate planning attorney can fulfill many roles when it comes to wills and trusts. Your estate planning lawyer can help you draft your will and/or trusts, be the executor of your will, be your named trustee on your trust, and can help beneficiaries of an estate with or without the aide of a will or trust to navigate the probate process.

Contact the Storay Advocacy Group if you have any questions about wills or trusts, if you are interested in creating a will or trust, or reach out if you need help after the passing of a loved one to navigate their estate and the probate process.