There comes a time in everyone’s life, when they start to think about passing on their life’s hard work to the people or causes they cherish. Having both a will and trust is vital to fulfill this. With that in mind, learn about the four fundamental differences between a will and a trust.
How Is Your Wealth Going to Be Used?
Even though you may present instructions for and elaborate how you wish your assets to be distributed when you pass away, there’s no guarantee that your heirs will accept their part of the deal. If you are worried about a certain family member misusing the inheritance or being unable to use the inheritance how you wish, consider giving a third party of your liking in charge of it until they can use it for the purpose that you want it to.
How Property Is Distributed
When you die, your will must be probated in a court of law to determine whether it is valid or invalid. On the other hand, a trust doesn’t have to go through this process. Because of this, distribution through wills is relatively more expensive and time-consuming than trusts. At our firm, we help you create the perfect will or trust to transfer your assets to your family members or loved ones.
As the will passes through probate, your banking information, social security number, and information about your property will be available to anyone who wants to pry them out of the court. A trust helps to avoid this and helps to protect your private and personal information.
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At Kalicki Collier, we offer all kinds of litigations services in Reno, Nevada, including estate planning. If you are looking for estate, trust or probate lawyer Nevada, then please call us at 775-204-0600/775-413-2953 or complete this form.