Wills vs. Trusts
When it comes to estate planning, one common question arises: should you opt for a will or a trust? Both are powerful tools in ensuring your assets are distributed as per your wishes, but they serve different purposes. In this blog, we’ll navigate the distinctions between wills and trusts, helping you make an informed decision with the guidance of Erica DeSanti and The Legal Planning Firm.
Wills and trusts are like different paths to the same destination – ensuring your assets are passed down to your loved ones according to your wishes. They both outline how your estate should be handled, but they do so in unique ways.
“The greatest glory in living lies not in never falling, but in rising every time we fall.” – Nelson Mandela
Nelson Mandela’s quote resonates with the essence of wills and trusts. Just as in life, where we learn from our falls and rise stronger, estate planning allows us to anticipate potential challenges and plan for them. Wills and trusts provide mechanisms to ensure your legacy perseveres even in the face of unexpected events.
Wills are typically easier and less expensive to set up. They are a legally binding document that outlines your wishes regarding the distribution of your assets after your passing. However, they are subject to probate, a court-supervised process that can be time-consuming and costly.
Trusts, on the other hand, are more complex but offer certain advantages. They allow you to transfer your assets into a trust during your lifetime, which can help avoid probate and maintain privacy. Trusts can also provide more control over how and when assets are distributed, making them a useful tool for more intricate estate planning.
Takeaway:
The decision between a will and a trust should be based on your individual circumstances and goals. While wills are simpler, trusts offer more control and can help avoid probate. Erica DeSanti and The Legal Planning Firm can help you navigate this decision.
Call to Action:
To determine which option is right for you and create a personalized estate plan that safeguards your assets and legacy, contact Erica DeSanti at The Legal Planning Firm today at 954-260-7817. We’re here to guide you through the process and ensure your wishes are carried out.
