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Wills and Trusts
When taking care of your estate planning it is important to know that every estate plan should have a will and a trust. Wills and trusts are the foundation for all estate planning. As mentioned under estate planning, effective estate planning is all about making a solid plan in advance to make sure that your wishes are carried out the way you and your family want them to be. Wills and Trusts are in place to help you do just that. Brian J. Downey P.A. has been helping families and individuals with their wills and trusts, and all of their estate planning needs. While no one likes to think of death, preparing a will and trust and having your documents in place can help to give you peace of mind knowing that when the inevitable happens, your family is taken care of the way you want and not the way a court decides.
The Difference Between a Will and a Trust
Many people have heard of a will and a trust, but do you really know what they are and what the difference is? Below is a brief description of the two.
A Will, also referred to as a Last Will and Testament is the most important part of an estate plan. With a Will you are able to choose who will inherit your assets, select who will have guardianship over your children and delegate a executor who will make sure that all of your wishes stated in your Will are carried out.
A Trust is a document which will allow you to set assets or money aside for family or charities and organizations. These assets will not go through the long drawn out process of probate, and will be available to your loved ones faster and without much hassle.
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Don’t Wait – Act Now
The time to plan for your loved ones is now. As your assets and finances continue to grow, a will, living trust, power of attorney, an advance directive for health care and/or guardianship of children are all essential to planning your estate. Call (239) 321-6690 and let Brian Downey, PA provide expert guidance to get your estate plan started today.