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

If you are looking to create an estate plan for your assets, choosing between a trust and will is an important part of the process. Both options offer advantages and can be used to protect your interests as well as provide for your loved ones. A will is a legal document that allows you to outline how your assets should be distributed after you pass away. A will is traditionally used to transfer assets after your death, such as real estate, investments, and other property. In other words, a will can help provide for your loved ones by ensuring that your assets are distributed according to your wishes. A trust is another legal document that allows you to arrange for the distribution of your assets either before or after you pass away. In a trust, you appoint a trustee to manage your assets in accordance with the trust’s instructions and ensure that your wishes are respected. Trusts can be used to transfer assets, protect them from creditors, or even provide for the care of a minor child or disabled individual. Whether you should include a trust or will in your estate plan ultimately depends on your specific needs and circumstances. Both provide important benefits, but which one you choose should be based on your unique situation. If you’re not sure which option is best for you, consulting with an estate planning lawyer can be a good idea. They can provide you with the advice and guidance you need to make the right decision.

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

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