Wills Vs. Trusts: Which Option Is Right For You?
When establishing the right estate plan for you, it is important to understand the differences between the two most common documents that are used: wills and trusts.
A last will and testament is the primary component of many estate plans. It allows you to make your wishes known for your assets and to name an executor who will oversee the settlement of your estate. You also can appoint a guardian for minor children. A will alone does not avoid probate and will likely go through the court system.
Through a trust or living trust, you avoid the probate process, but there is still an administrative process that must be followed carefully. Just like a will, you will appoint a person who will administrate the trust — in this case a trustee. A trust allows for greater flexibility, including providing for special needs and charitable giving.
For more information on wills and trusts and to find the option that is right for you, contact me today at 714-460-9406 or send an online message. I am an experienced attorney based in Anaheim, California. As your lawyer, I will work closely with you to devise a plan that achieves your long-term goals.