Trusts are a great way to make sure that your assets are secure and distributed exactly how you want them to be. An experienced Gladwin, MI estate planning lawyer that has a strong understanding of both Michigan and federal laws can help make sure that your assets are protected.
A Living Trust Has Some Advantages Over a Will
Living trusts are generally more expensive to have drafted in comparison to a will but offer some benefits that a will does not. Both a will and a living trust distribute your estate as you have described upon your death or incapacity. The difference is that a will has to be reviewed by the courts and go through probate where a trust does not. Probate court can take months to settle and if disputed can cost a lot of money. Living trusts maintain privacy for your estate because they do not go through probate court. Wills become public record after being filed in probate court for anyone to read. You can also avoid certain taxes on your estate by establishing a living trust. However, once assets are put into a trust the trust becomes the legal owner of those assets. An experienced estate planning attorney will be able to help you decide if a living trust or a will is the best choice for you.
Gladwin, MI Living Trust Attorneys at Gentry Nalley, PLLC
If you or someone you love is looking to create a living trust in Gladwin, MI, our skilled estate planning attorney, Erika E. McNamara, Of Counsel, is here to help. Ms. McNamara is committed to family values, integrity, and privacy. She will make sure that your wishes are protected and that your assets are properly distributed or preserved at your time of death or incapacitation. We understand that this is a delicate and sensitive matter and will provide you with our best guidance throughout the entire process. Call us at (517) 522-4092 or contact us on our website so we can help you to plan for the future.