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WILL AND TRUST PLANNING
Although the two terms; ‘wills’ and ‘trusts’ are often confused, they are different in a few important ways. Which suits you better might come down to your situation and concerns. So what is best for you? Find out about what wills and trusts planning we have here and whether one might be right for you.
WHAT IS A WILL?
The legal documents you provide to declare your will for the person you care about how you distribute your assets after you passed away. A will is a document that leads who will receive your property on your death and appoints a legal representative to perform your will.
WHAT IS A TRUST?
On the contrary, trust can be used to initiate the distribution of property before death, at death or afterwards. Trust is the legal arrangement in which a person (or institution, such as a bank or law firm), called “trustee,” holds the legal right to property for others, called “beneficiaries.”
WHY DO I NEED A WILL?
Without a will, your assets can give you more trouble than to benefit your family when they are most vulnerable. Your loved ones can be involved in the old legal process or fight in complex legal battles with other family members.
Without a will, the law will decide who your beneficiaries, trustees, and guardian would be.
There is a legal process to go through before your loved ones can benefit from your assets. Leave nothing to chance.
Make a will, and the law will protect your wishes.