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

If you’re considering an estate plan in Nebraska, it’s important to decide whether a trust or will should be included in your plan. Both provide structure for your estate, however, one may be a better fit than the other depending on your circumstances. A will is a legal document that dictates how your assets will be distributed upon your death. It can also determine who will be responsible for taking care of minor children and who will be appointed to manage your estate. In order for a will to be legally binding, it must be signed by two witnesses and filed with the probate court. A trust is a legally binding document that transfers ownership of assets from a person to a trustee. These assets are then held in the trust for the benefit of the named beneficiaries. You can name a trustee (such as a lawyer or financial advisor) to oversee the trust assets and ensure they are managed according to your wishes. Additionally, a trust can include tax benefits and can avoid the probate process. When deciding between a trust or will for your estate plan, consider how much control you want to have over your assets after death, and how much time and money you want to spend on the probate process. Speak to an estate planning attorney to discuss your options and determine which option would be best for your situation.

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

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