Get In Touch With The Best Will And Trust Attorneys In Chico
A lawyer who focuses solely on will is known as a “will lawyer.” When a person, referred to as the “testator,” dies, they can choose how their assets should be transferred to the people they care about most. Among the assets, a testator can leave behind in a will are both real estate and personal belongings.
A will is part of a person’s overall estate strategy in many cases. An individual’s estate plan determines how their assets will be managed and dispersed after they pass away. A complete estate plan can benefit practically everyone, including those who aren’t particularly affluent or elderly, as the term “estate planning” usually implies.
With the help of a living will lawyer in Chico, you can manage your estate in any way you like. A well-thought-out estate plan can help your loved ones pay less in taxes while also avoiding the need for probate court hearings.
What’s The Difference Between Will And Trust?
Estate planning involves the creation of both a will as well as a trust. In each case, how assets are distributed differs greatly. A will and a trust are often recommended, but what’s the distinction between the two?
Wills are legal documents that take effect upon the death of their authors. A will lays down the deceased’s final wishes about the distribution of their possessions. Compared to a will, a living trust could be set up while the grantor is still alive. This person can even name themselves as the administrator and be in charge of the assets right up to their demise.
With the guidance of an experienced Ron Marquez Law Corp trust and probate litigation lawyer, you may go over your assets and choose which trust option is most appropriate for you. There are several different types of trusts, and we can help you decide which of your assets are best suited for one or the other.