A will makes the process of distributing your assets easier. After your death, this legal document transfers your finances, property, belongings, and even the guardianship of minor children to specified individuals. While a will still protects your assets, it becomes a public record document and will most likely go through probate. <a href="http://cialislowestpriceforyou click to find out more.us/”>best generic viagra uk online viagra order erfahrungen levitra 10 mg
What is a Living Trust?
A living trust becomes effective as soon as it is executed. This means it is an on-going document that can be changed and amended throughout your life. Should you be incapacitated, a living trust also names a person who can manage your estate without freezing your assets.
Consider the following 3 things before selecting a will or a living trust:
- Location- Check out your state laws to ensure state taxes and laws are advantageous. buy cialis viagra 50mg versus 100mg
- Beneficiaries- Do you want to leave assets behind for the care of a pet or a minor child? A living trust allows you to hold assets after your death if you do not wish to immediately share this portion of your estate. old can you buy viagra
- Financial Situations- While wills are certainly a more affordable document to prepare, they clearly do not offer the same protection as a living trust. Investing in a living trust should be considered based on these factors, regardless of the expense.
Which Should You Choose?
Understanding the difference between a living trust and a will help you determine the best estate planning documents you need to prepare. Remember that a living trust has to constantly be updated to include life or financial changes. Because of this, many people use a pour-over will in addition to a living trust. A pour-over will lists everything that was not originally listed or added in your living trust. In addition, a will grants guardianship to minor children, whereas a living trust does not. If you have minor children, it’s advisable you have both a living trust and a will. tadalafil
Do you need help preparing your living trust? We are experts in estate planning. Please contact Brillant Law Firm today to get started.