Wills vs. Trusts: What Option Suits Your Needs?
Estate Planning Lawyer in Sacramento
When doing research about effective estate planning, you have surely seen
the repeated mention of the words "
wills" and "
trusts," sometimes even in the same sentence. So what is the difference
and which one should you choose?
A will is a document that is prepared before your death that determines where
your assets go when you die. When a person dies without a will, or dies
with only a will (no trust), that person's assets will go through
probate. A probate court oversees the process to ensure that your debts
are paid and your assets are distributed according to your will. Numerous
documents must be filed with the court. There will be statutory attorney
fees, which are a percentage based on the value of the "gross estate."
There may be possible executor fees which are similar to attorney fees.
Probate is typically extremely expensive and usually a lengthy process.
A properly funded trust will avoid probate. It is similar to a will in that you pre-plan where
you want your assets to go upon death. However, if you become incapacitated,
you can name a backup trustee to take care of your assets. The trust would
pour-over will, which insures anything left out of the trust will go into the trust after
your death. Your trustee, after your death, may start to gather and distribute
your assets according to the terms of your trust without unnecessary delays.
In many ways, preparing a proper estate plan is a surefire way to protect
your estate and have your wishes carried out. Janell Woodbury at
The Woodbury Law Office is well versed in all matters pertaining to
estate planning in California, including the drafting of wills and trusts.
Proudly Serving Clients in Sacramento & Other Areas
scheduling a free consultation , Attorney Janell Woodbury can review your estate planning needs and provide
you with the compassionate and careful legal guidance you need. Our office
is proud to offer all of our clients the customized and high-caliber service
they require for their estate planning needs.
For more information about wills, trusts and how we can be of assistance
to you, please do not hesitate to
contact our office
. We wish to help make the estate planning process easier and less daunting.