Should I include a trust or will in my estate plan?

The answer to whether you should include a trust or will in your estate plan depends on a variety of factors, as well as your individual goals and needs. In California, estate planning involves creating directives for how your personal and financial affairs will be managed in the event of your death or incapacitation. One of the most important documents used in estate planning is a will. A will allows you to distribute your assets to your heirs and appoint an executor to oversee the estate. However, a will is only valid after you have passed away and it may not provide protection against estate taxes or protect your assets from creditors. Trusts can be beneficial for certain estate planning objectives. For example, trusts can be used to protect assets from creditors and provide for your wishes to be carried out after your death. You can also create trusts for estate tax mitigation or for the benefit of a specific relative or charity. Additionally, trusts can be used to manage assets for minors, or to create trusts for disabled individuals without affecting their ability to receive government benefits. It is important to research both wills and trusts and consult with an experienced estate planning attorney to determine which option is best for you. Depending on your individual circumstances, you may decide to include both a trust and a will in your estate plan.

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Should I include a trust or will in my estate plan?

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