November 17, 2014: Why I Do What I Do
January 28, 2015: Probate Terms in Plain English
What are Wills and Trusts?
Wills and Trusts are separate Legal documents that give others instructions on how you want your assets handled. A Will is effective when a person passes away and a Trust is effective immediately once you sign it. Your estate plan, whether done with a Will, Trust, or both, also includes a durable power of attorney and an Advance Directive. Your Advance Directive is a living will and health care power of attorney.
Who needs a Will?
-Everyone. Without a will your estate is distributed by what the statutes dictate, which may, or may not, be what you want.
Reasons for Planning with Trusts:
-Remove property from business risks
-Delegate financial affairs to trustee
-Provide direction to a trustee
-Provide for children’s health and education
-Provide for parents
-Provide for surviving spouse
Arches at the Fayette County Justice Center