Wills, Estates, and Probates

What is a will?

A will is a legal document that creates a plan for how your affairs and assets will be managed and distributed following your death. 

What is a trust?

A trust creates a financial relationship between a trust or and trustee, allowing the trustee to manage finances until the trust is distributed to them. Unlike a will, a trust is active as soon as it is created, not just after your death. A trust can give you more control of their assets and minimize the need for probate following your death. 

What is probate?

Probate is the legal term for the process of sorting out someone’s affairs and distributing their assets following their death. This can include authenticating the will, transferring their assets with court supervision or administering the estate of someone without a will. 

 When should someone write a will?

Since death is an unavoidable fact of life, it can be a good idea to write a will after you are legally permitted to, following your 18th birthday. However, a will becomes increasingly important as you acquire financial assets, property and dependent relationships. It is recommended to create or reassess your will at milestone events such as marriages or divorces, the birth of children, the purchase of a home or the founding of a business. 

Do you need a lawyer to create an estate plan?

There are avenues to legally create a will or other estate plan without the help of a legal professional, but doing so incorrectly can, at best, cause confusion and, at worst, utter chaos. An attorney’s advice and counsel can help you and your family make sound decisions about your estate and eliminate confusion following your death. An expert’s legal knowledge is especially important when several relatives or large amounts of property are involved.