Should I get a Will or a Trust?
- A will records your wishes regarding how to divide your property once you pass away. Your will can name a guardian for your young children or name an executor to close your estate. However, all property that passes by way of a will goes through the probate process, which can be time-consuming and expensive. A trust is a legal entity you create to hold your property. You can set up a trust to continue on after you die, or to end at your death, at which time the property passes to your heirs. Trusts are generally more expensive to create than wills, but they’re designed for complex purposes and can make up for the initial cost with tax benefits. A Pascagoula estate planning attorney can help you understand which tools make the most sense for you. https://www.cchmlawyers.com/practice-areas/estate-planning/ On Google: https://bit.ly/351e85c