Whether you are single, newly married, dealing with the reality of having kids, or planning your retirement, it is always a good idea to have a plan for the inevitable. Especially for those with children, you do not want to leave your children behind without any support. Estate Planning can help to ease your mind in knowing that there is a Plan in place to take care of your family and love ones.
A living trust provides lifetime and after-death property management. If you are serving as your own trustee, the trust instrument will provide for a successor upon your death or incapacity. Court intervention is not required. Livings trusts also are used to manage property. If a person is disabled by accident or illness, the successor trustee can manage the trust property. As a result, the expense, publicity, and inconvenience of court-supervised distribution of your estate can be avoided.
A Will is a written document, signed and witnessed, that indicates how your property will be distributed at the time of your death. It is revocable and subject to amendment at any time during your lifetime. It also allows you to appoint a guardian for your minor children.