Today, we prefer to transfer assets through trusts rather than through wills. That’s because if you transfer assets through a will, it has to go through probate, and probate is long, public, and expensive. Trusts also have the benefit that, if you have minor children and if something happens to you, your assets will be held for them for a period of time and/or conditions that YOU set.
But an Estate Plan is more than just a trust. We still prepare wills for our clients, which act as backups in case there is some problem with the trust. What’s more, guardianship of their children is a huge priority for our clients, and the wills are where we make those provisions.
Additionally, there are the “incapacity planning” documents. We provide our clients with instruments that give people YOU choose as your agents for financial and health care decisions, should you become incapacitated. These documents also include your end of life instructions.