Name: Cumbest, Cumbest, Hunter & McCormick, P.A.
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Estate Planning

Related Estate Planning Videos

What happens if Someone Dies without a Will?
- When people die without a will, their estate is distributed according to state law. Each state has its own rules of intestacy and inheritance, but the results are similar in most states. Under intestacy laws, most assets go to close family members first. In rare cases of no family, property passes to the state. A Pascagoula estate planning attorney can provide more detailed information about intestacy laws in your state. https://www.cchmlawyers.com/practice-areas/estate-planning/ On Google: https://bit.ly/351e85c
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