Plan Ahead For Your Families Sake.

 Wills and Trusts: The Importance of Them.

Wills and trusts are way more important than you may think. They are the voice for you from beyond this earth. Not only this, it helps those who have already suffered a loss be protected from losing more. 

A will is a legal testament that states what you want to be done with your property, possessions, and estate when you pass away. It is essentially your voice to your family, telling them what you would want to be done with your things when they find themselves at a loss. Some wills, unfortunately, designate a guardian to your children if you happen to leave a family behind. Further, a will distributes your things among your family. In these, you have the opportunity to donate particular possessions or even write in to donate what money you left behind. Without leaving this important document behind, the bank, the state you reside in, or the local court will decide for you, which may go entirely against your wishes for your things. 

Trusts are quite similar to a will. The difference is that this focuses more on assets than on all of your belongings and property. A trust is created by the settlor who decides how they want their assets transferred and to whom they want to transfer them. Once they've passed, the trust gets transferred to a trustee, who then holds onto it for the beneficiary. The trustee can be simply that or can also be a beneficiary. The main goal of a trust is to determine how a person's assets and financials are to be settled and distributed; this can prevent harsh taxes and prohibit creditors from taking these things from the beneficiary. 

Obviously, both of these essential documents go hand in hand with each other. They both serve as your voice when you pass and help your families make decisions on your behalf. If you do not have these documents finalized or even started, your family will have to suffer as your things get taken as if they were nothing. Save your family the hassle, and let us help you through this. It does not have to be complicated; visit our website to see how we can help you!