One of the many areas of the legal system that a family lawyer covers is the creation and execution of wills and trusts. But if you aren’t sure what a wills and trusts lawyer can do for you, it probably means that you haven’t come up with the best plan for either document. If you are looking for Westmont wills & trusts attorneys to help you plan for your future and the future of your family, it’s a good idea to start with a solid understanding of what this type of lawyer can do for you.
What is the Difference Between a Will and a Trust?
A wills lawyer is someone who helps you create a will, which is a document that takes effect after you die. This document usually determines who becomes the owner of any property you own, and also appoints someone, such as a family member or even the wills lawyer themselves, to be the legal representative who ensures that your will is carried out.
A trust lawyer, on the other hand, helps you create a trust, which is a similar document to a will but doesn’t rely on death to be enacted. What that means is that you can begin passing on property to others before your death, according to your wishes in the trust. Another reason someone may choose to set up a trust instead of a will is to push back the date that parties receive property after your death. In a will, this action happens immediately after your death. With a trust, you can arrange for the date when you wish for your property to be passed on.
Going Through Probate with Westmont Wills & Trusts Attorneys
Another difference between a will and a trust is that a will has to go through probate. This means that a court process is involved to ensure that everyone understands how the property will be distributed. Trusts, on the other hand, do not require this process. Because wills are part of the court system, they are public record. Trusts are private documents that do not need to be shared.
Understanding which documents best suits your needs, and having it executed, is a legal matter that can get complex no matter how much or little property you own. A wills and trusts lawyer walks you through the entire process and ensures that your desires are carried out.
