What is the Difference Between a Will and a Trust?

Wills and trusts are both the best options to make sure your assets are properly managed and distributed after death or incapacitation. A will is a written document that expresses the wishes of the deceased. A will becomes active after death and names those who receive objects and cash assets by the deceased. On the other hand, a trust is active as soon as it is created and makes sure that the beneficiary receives the assets when ready. A major difference between the two is that a will goes through a process called probate. Probate is the process where an authorized court administrator examines the document and the family can contest the will. A trust can not be contested.

The Best Time to Establish a Last Will or Trust

To be frank, the sooner is almost always the better when it comes to establishing a last will or trust. No one knows what the future holds, so being prepared for an untimely death or incapacitation is important. In the event that one passes without a will or trust, then one’s family and friends will have to go through lengthy legal processes. One can always update their will over time if they need to make changes. Wills and trusts are a significant piece of estate planning.

Wills & Trusts With Gentry Nalley 

If you or someone you love is looking for a will or trust in Flint, MI, Lansing, MI, Gladwin, MI, and the surrounding areas, our skilled 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 your estate is important to you and those you love and will provide you with our best guidance through the entire process. Call us at (517) 522-4092 or click here to contact us so we can help you today!

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