Previous Posts
- This blog has moved
- Choosing a Personal Injury Lawyer
- What we will do for you if you are in an Auto Acci...
- Thinking of relocating your child to another state...
- How does the law look at "sexual predators" inside...
- Watch Out For Mortgage Relief & Loan Modification ...
- Does your Insurance Company have to reimburse you ...
- Celebrities and Personal Injury Cases
- Why Settle Out of Court?
- Child Custody Concerns
Archives
- May 2008
- June 2008
- July 2008
- August 2008
- September 2008
- October 2008
- November 2008
- December 2008
- January 2009
- February 2009
- March 2009
- April 2009
- May 2009
- June 2009
- July 2009
- August 2009
- September 2009
- October 2009
- November 2009
- December 2009
- January 2010
- February 2010
- March 2010
- April 2010
Personal Injury Blog
CAPE CORAL, FORT MYERS, LEE COUNTY, FLORIDA
The Blog of Lusk, Drasites, Tolisano & Smith,
Wednesday, October 8, 2008
Wills and Trusts: What You Need to Know
Wills and trusts are legal documents to help you have control over where your estate or property is distributed and how it is managed after your death. After you die, any property you own typically will go through the legal process of probate, which transfers the property’s ownership to your beneficiaries. These can be large, quite valuable estates or smaller-scale estates involving real estate and personal properties.
What are trusts?
In order to avoid having your property subject to probate, you may opt to set up either a revocable or irrevocable trust. A trust allows you to transfer the legal title of your property to a different person or entity of your choosing while you are still alive. Revocable trusts can be changed by you at any time; irrevocable trusts are permanent. A trustee, the person or entity named by you, will control the trust according to your instructions. Upon your death, because the property is owned by the trust, your beneficiaries may not have to go through the probate process, which can be less costly for your heirs.
Why is a will important?
Wills are important legal documents that help provide for your family after your death by stating:
If you die without a legal will in place, the state will decide these issues for you, and the selections may not be what you would have chosen. Depending on your family situation, your estate and the custody of your children could be given to your spouse, parents, siblings or other family members.
Make sure you have a plan for your family’s future. Do not wait until it is too late. Please contact our estate planning attorneys at Lusk, Drasites, Tolisano & Smith, P.A. today to set up a will or trust to protect the estate and assets you worked so hard to accumulate.
What are trusts?
In order to avoid having your property subject to probate, you may opt to set up either a revocable or irrevocable trust. A trust allows you to transfer the legal title of your property to a different person or entity of your choosing while you are still alive. Revocable trusts can be changed by you at any time; irrevocable trusts are permanent. A trustee, the person or entity named by you, will control the trust according to your instructions. Upon your death, because the property is owned by the trust, your beneficiaries may not have to go through the probate process, which can be less costly for your heirs.
Why is a will important?
Wills are important legal documents that help provide for your family after your death by stating:
- How your property and assets will be distributed
- Who you want to care for your children or disabled adult children
- Who will be the personal representative of the will
If you die without a legal will in place, the state will decide these issues for you, and the selections may not be what you would have chosen. Depending on your family situation, your estate and the custody of your children could be given to your spouse, parents, siblings or other family members.
Make sure you have a plan for your family’s future. Do not wait until it is too late. Please contact our estate planning attorneys at Lusk, Drasites, Tolisano & Smith, P.A. today to set up a will or trust to protect the estate and assets you worked so hard to accumulate.
posted by
bloggertb
at
12:42 PM
