Comparing Wills and Trusts

Although making plans for your estate may be uncomfortable, it is one of the most important things you can do for your family. Two options you have are wills and trusts. Wills are legal documents that detail your final wishes, from who you wish to receive the assets in your estate to who should gain guardianship of your pets. Trusts can be set up while you’re alive and are a pool of assets that can be used by your beneficiaries. When you are alive, you are the beneficiary of your trust, and after your death, it will pass on to the people you have designated. Let one of the attorneys in Tracy at Bakerink, McCusker & Belden help you understand whether a will or trust is appropriate for your needs and help you set one up that adequately protects your family. Start a conversation with your family about estate planning by sharing this information.

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