Wills, Trusts, and Probate

One of the most frequently asked questions that I receive as a lawyer is "I know I need a will, do you do that type of work?"  Invariably, my answer is "yes, however, you probably will need to consider a more elaborate estate plan than merely a simple will.  I really think that we need to sit down and discuss the best plan to suit your needs.  Most likely, you should consider an intervivos (living) trust".

Unfortunately, after potential clients learn that planning for the post-life distribution of their assets will take longer than an average lunch, they tend to put off the completion of this task.  Afterall, no one wants to think too much about their death.

While it is true that the proper preparation of your estate is more time-consuming than just listing in a will who does or does not receive certain assets from your estate, the benefits of pre-planning to your heirs and loved ones cannot be overstated.  Indeed, a  properly prepared trust and estate plan should provide for the following:

• The immediate possession and ownership of your property by those chosen by you as beneficiaries.
• Avoid the high costs associated with the probating of your assets.
• If you are married, a trust may help you and your spouse to significantly reduce the estate taxes to be paid on your assets.
• A trust will permit you to specify the terms and conditions to be imposed on your heirs or beneficiaries in receiving your property as well as the individual(s) who will provide for their care and support  (trustee).  For example, your trust may provide that any child under the age of 30 at the time of your death not receive his/her share unless and until he/she completes college or maintains satisfactory employment.

In a trust, you can restrict the timing and manner that your beneficiaries receive their respective inheritance or gift.There are numerous reasons beyond those itemized above, and indeed beyond the scope of this page, that a person may prefer to create a trust over a traditional will.  Usually, however, a will and trust are created together so as to include all of the assets of an individual's estate. 

In addition to the foregoing documents, a person should also consider having his/her lawyer prepare a Durable Power of Attorney for Health Care.  If properly created, this will allow your loved ones to make health care choices for you in the event of an injury and/or other health condition which renders you unable to make your own decisions.

If you have questions about any of these documents or would like a consult about Attorney Zilba handling a deceased relatives/friends estate, please contact me via email or call my office at your convenience to schedule a convenient appointment. Remember, there is never a charge for an intital consultation.

Contact us regarding your Wills, Trusts, and Probate issues.

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