Wills & Trusts
In a will a person expresses, in writing, what he or she wants done with his or her property after he or she dies. The estate consists of the property that one leaves behind after death. A trust is the legal right to the beneficial enjoyment of property to which another person holds the legal title. Wills and trusts are commonly used estate planning tools.
An experienced wills and trusts attorney can make sure that the measures you choose comply with your state’s law and truly carry out your wishes. The cornerstone document of any estate plan is the will. A will allows you to:
- Select the person responsible for carrying out your final wishes (known as the executor or personal representative)
- Name a guardian to care for your minor children and manage their property
- Direct which property will go to which beneficiaries
- Determine who should receive the remainder of your estate
A trust is a legal property interest held by one person for the benefit of another. A trust can be revocable or irrevocable.
- Revocable trusts may be changed or terminated by the grantor at any time and for any reason
- Irrevocable trusts, once established, cannot be terminated or altered by the grantor for any reason
There are many different types of trusts that can be used in your estate plan, An experienced trusts and estates attorney like the team at McManus Law Firm can review the different types of trusts with you and help you select the ones that will best fit your estate’s needs.
Contact us today to schedule your free initial consultation.