WILLS & TRUSTS - FREQUENTLY ASKED QUESTIONS

  1. Should I get a trust?
    Trusts allow you to avoid probate.  They may also be used to reduce any estate taxes.  To answer this question a range of factors must be considered including how much property you have, what kind of property you have, and your family dynamics.  Call us today to schedule a consultation so we can help you find the best options for your situation.

     
  2. What's the difference between a trust and a will?
    A trust is a legal entity that must follow the rules that you create.  This leaves the Trustee to freely distribute your property without going to probate court.

    A will sets forth how any probate property will be distributed by the Probate Court.  If your property does not go through Probate Court, then there is nothing for your will to distribute.  Property that normally remains outside of probate court includes life insurance policies, trust property, and payable/transfer on death properties.

     
  3. What should I bring to the appointment?
    Bring as many of the following items as possible:
    • Information for those you wish to leave your property to including names, addresses, phone numbers, and the birthdays of any minors
    • Copy of any POAs (Power of Attorney)  and Living Wills that are still in force
    • Your previous or current trust and will
    • All information regarding the location, amount, and owners/beneficiaries listed on financial accounts, life insurance policies, retirement plans, etc.
    • Deeds to real estate parcels
    • Titles to any motor vehicles
    • Social Security card
    • Driver’s license/ State ID

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