Everyone Needs A Will And Your Estate Plan May Benefit From Incorporating A Trust
You should create a will to control how your California estate will be distributed in the event of your death or incapacity. Your will is the basis for all aspects of your estate plan. It will provide security of your assets to your beneficiaries.
Consult the lawyer at The Law Offices Of Richard Wingerden for insightful one-on-one guidance through your estate planning process. Our attorney will conduct a thorough review of your estate to provide you with the best option for you and your family.
The Aspects Of A Will
Your will is created and tailored to fit the plans you have for your estate. The basics of a will consists of your beneficiaries, executor, guardians, assets, debts and property. The types of property you should include in your will are:
- Checking and savings accounts
- Patents and copyrights
- Stocks and bonds
- Various forms of business ownership
- Intellectual property
You will outline every detail of your estate and then identify how it should be distributed in your will. It is in your best interest to create your will with a trust and wills attorney to ensure legitimization.
A Trust May Benefit Your Estate Plan
Incorporate a trust into your estate plan to avoid probate. In almost every case, a trust will speed up the distribution process. You can choose to incorporate a revocable or an irrevocable trust. The utilization of a revocable trust allows you to retain ownership of your assets while you are alive. You can make modifications with a revocable trust, but you cannot modify an irrevocable trust.
There are many subtypes of trusts that you can include in your estate such as a charitable or a blind trust. For a full explanation of the types of trust available for your estate plan, consult a lawyer.
We Look Forward To Helping You
Contact our San Jose office for your free consultation by calling 408-273-8239. You can also schedule your consultation online by emailing us.