Estate planning involves making arrangements for the management and distribution of your assets upon your passing or incapacity. It’s essential for ensuring that your wishes are carried out and your loved ones are provided for according to your wishes.

A will is a legal document that specifies how your assets should be distributed upon your passing and appoints guardians for minor children. A trust, on the other hand, is a legal arrangement that allows you to transfer assets to a trustee for the benefit of beneficiaries according to your instructions.

Estate planning can help minimize taxes and expenses by implementing strategies such as gifting, charitable giving, and setting up trusts to reduce the tax burden on your estate. By planning ahead, you can ensure that more of your assets go to your beneficiaries rather than to taxes and fees.

Trust administration involves managing and distributing assets held in a trust according to the terms of the trust document. This process typically involves tasks such as inventorying assets, paying debts and taxes, and distributing assets to beneficiaries.

When choosing a trustee for your trust, it’s essential to consider factors such as trustworthiness, financial acumen, and availability. You may choose a family member, friend, or professional trustee, depending on your preferences and needs.

While it’s possible to create a basic will or trust on your own, working with an experienced estate planning attorney can ensure that your documents are legally valid and comprehensive. An attorney can also provide valuable guidance and support throughout the estate planning and trust administration process.

To get started with estate planning, we recommend scheduling a consultation with one of our experienced estate planning attorneys. During the consultation, we’ll discuss your goals, objectives, and concerns and develop a customized plan that meets your needs and ensures your wishes are carried out effectively.