TRUSTS AND WILLS

WILL VS. TRUST

A Will is public record, available for the general public to see. A Trust offers privacy and simplicity. In Trust Administration, you assets and information about your assets is kept confidential.

One of the main advantages of a properly executed Trust vehicle is a minimization or avoidance of the lengthy probate process because all the issues regarding inheritance, taxes, debt, income and other issues are addressed in the Trust agreement documents. Additionally, as a result of specific state laws, Trusts are often more difficult to contest or challenge than Last Will and Testaments, making the wealth transfer process quicker and less expensive overall than using a Will.

A Trust may hold a portion or the entirety of an individual’s or family’s assets, and can be used in combination with other estate planning tools and solutions. Trusts are typically used when an estate has a higher net worth, or when multiple types of assets are intended to be distributed to different parties over time, or at the death of the Trust founder.