Insightful Assistance In Planning For The Future With Wills And Trusts
The process of estate planning can be difficult, especially as we all face our own futures and mortality. However, it is an important step to ensure your assets and legacy are protected for your family, loved ones, beneficiaries and future generations. Wills and trusts are two of the types of documents that are essential in the estate planning process, as they can detail out your wishes for your care and assets, as well as protect your property.
To begin the process of creating a will or trust, turn to our legal team at Linton & Distasio, P.C.. Since our firm was founded more than 30 years ago, our lawyers and staff have been providing personalized, compassionate, professional representation to clients. We are here to help you every step of the way in all estate planning matters. We provide home and hospital visits.
Why Do You Need A Will?
A will is an important document that can detail who is to receive your assets upon your death. Many people think a will is just an optional document and it is not really that important. While it is optional, it is actually very important. Without a will, the state will handle your estate, distributing the assets as the court sees fit. To ensure that your assets go to the people or organizations of your choosing, you need a will. The will needs to be written and signed by you. These are the typical criteria for having a valid will. However, to ensure it is up to the letter of the law and there will be no issues, one of our attorneys can assist in the drafting, revising and reviewing of a will.
Types Of Trusts
A trust document details out how the included assets and property are to be handled for the life of the trust or trust creator, and how they are to be distributed at the end of the trust or death of the creator. Our firm helps clients understand the various types of trusts and how they may be used to protect assets and property, and in some cases, avoid estate taxes. Some of the types of trusts we establish for our clients include:
- Revocable trust: The majority of the trusts we create are revocable trusts. These trusts can be changed at any time by the creator of the trust, and can be used to provide protection to a wide variety of assets and property.
- Irrevocable trust: An irrevocable trust is the same as a revocable trust, with one major difference. An irrevocable trust cannot be changed at any time. Once it is created, the trust will continue according to the initial terms set forth.
- Special needs trust: In order to provide for a child or other family member with special needs during the creator’s lifetime and afterward, this specific trust can be used.
- Charitable trust: The assets in a charitable trust are held in order to be donated or given to a charitable organization, one deemed worthy by the creator.
- Asset protection trust: This type of trust is typically used in order to protect the creator’s assets from creditor’s future claims.
Let Us Help You Today
Linton & Distasio, P.C., represents clients throughout Berks County.