Wills and Trust

 WILLS AND TRUST

Wills and Trust

Have you taken necessary Steps to protect you and your family?
It may be difficult, especially for healthy individuals, young adults and parents of young children, to discuss the need for a Will and/or Trust. These essential legal planning tools, however, may be necessary to help protect your family and give you peace of mind.
At Carmenates Law Firm, our attorneys consider essential legal planning an ongoing process. If you would like to meet with one of our lawyers to find out if you are comfortable with our firm, contact our office and make arrangements for a consultation.
Your Will
Every person eighteen or over should consider writing a Will, which should be reviewed and updated as necessary. This simple document can ensure that your assets are distributed as you would want and desire. 
Even if you have little money, your Will is a way to distribute any personal property to those you care about.
If you are a parent with a minor child, you can appoint a Guardian to look after the physical well-being of that child in the event of your death, and a Conservator can manage the child's assets.
In your Will you entrust a personal representative with the administration of your affairs in the event of your death.
You can use your Will to gift assets before estate taxes are assessed.
Trusts
Even people with modest incomes may have an estate that will benefit from a Trust. At our firm, we offer trust drafting so your intentions are carried out. Trusts provide privacy by transferring assets upon death without the need to go through probate court. Trusts may also provide continued management and administration of Trust assets for the benefit of loved ones after your death.
A Living Trust (Inter-Vivos Trust) is established during your lifetime. During your incapacity, you can appoint a Successor Trustee to manage your trust assets for your benefit and thereby avoiding the need to go to Probate Court. A Pour-Over Will is used together with a Trust to help ensure that any assets not properly funded into the Trust "pour-over" after death.
There are also some benefits to establishing an Irrevocable Trust. Irrevocable Trusts generally cannot be changed without a Probate Court Order – however, such Trusts can be used to greatly reduce exposure to potential creditors. It is common for Life Insurance Trusts and Special Needs Trusts to be irrevocable. To learn more about Irrevocable Trusts please contact the Carmenates Law Firm, P.A.
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