Writing a will is not something any of us really wants to think about. Unfortunately, if you have a family then a will and trust needs to be in place, and the sooner the better. If you have more then one child or children from a different marriage, it is important to make sure none of them accidentally gets disinherited. If you and your spouse needs to write wills trust american fork then make sure you find a good attorney that specializes in wills and trusts.
What is the difference between a will and a trust? A will is a document stating what you want done with your real estate and all of your belongings after you are deceased. It will state who receives what as clearly as possible. Who gets investments, retirement plans, and financial accounts should be clearly stated in a will.
A trust is similar to a will but is more detailed. It can consider taxes, age limitations and residual income. It will detail who will receive what property, how it will be used and if there are any age limits as to when someone can get the property.
If you are worried about one or more of your decedents spending or cashing in on you inheritance to quickly then there is a trust called a Spendthrift trust. This can be created to allow for fixed disbursements of funds for a period of time as stated in the trust.
Those who die without leaving a will often times causes disputes and family feuds. The bigger the family the more of a chance there will be a feud. Don’t do this to your family. Lay things out clearly and precisely in a wills trust. If you don’t then you could be leaving behind a family that never is the same again.
For you and your families sake, find a good wills trust attorney. Make sure the attorney you choose knows what they are doing and no loopholes are left open. It’s nonsense to think wills and trust are only for the wealthy. They are a necessity for anyone who cares about family and their future.