WILL & TRUSTS
The drafting of a will or trust is a very personal and private
endeavor because the very thought that mortality may be lurking
around the next corner is indeed sobering. Whether you're
25 or 75, taking an assessment of your affairs tugs at your
life's momentum upon which you want to never let go.
Unfortunately, one often seeks to avenge the shortness of
life by dividing up one's assets in such a way as if you believe
you could still rule from the grave. This gives your heirs
the jitters.
In preparing a will, it should be understood that it is
a mechanism to define what person or, for the charitable-minded,
what institution will be the recipient of your life's good
fortune. If you had no will, your estate would flow to your
family, and the statutes outline pecking order in which this
would occur. But should you wish to leave all or part of your
estate to friends or loved one's not in your family, then
a will is the surest way to go (especially if you want to
protect these people from your family). Simply call
us to make an appointment and we can discuss with you how
to best accomplish your wishes.
Sometimes people opt for creating a living or intervivos
trust as an alternate method of disposing of their estate.
Done properly, a trust can easily, and without probate, transfer
title to your heirs upon your death. You still have to pay
off any debts left by you at the time of your death, but a
trust is sometimes a handy tool in which to manage your affairs.
The main drawback is that while you're alive you have to re-title
everything you own in the name of the trust, and this can
be cumbersome. So give us a call and we can discuss what might
be most appropriate for your situation.
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While
you're at it, you may as well have us prepare for you one
or more of these documents as they are a handy was to deal
with crisis situations when next of kin is not what works
for you.