(513) 916-1600Cincinnati Wills & Trusts Attorney
Wills and trusts are two important legal documents you can create to protect your assets and final wishes upon your death. While contemplating the inevitable may be difficult, it’s essential to have these discussions with your spouse or adult children to ease their burden when the time comes.
At Krugler Law our compassionate and approachable team is ready to answer your questions and help craft an estate plan tailored to your needs. Don’t overlook the significance of wills and trusts; they safeguard your finances, property, and beneficiaries.
Understanding Wills
A will is a legally enforceable document outlining how you want your affairs managed after your passing and how your assets should be distributed. This critical document appoints guardianship for your minor children, ensuring their care if you’re no longer there. Without a will or designated guardianship, the probate court will decide on their guardians.
Your will empowers you to disinherit individuals, such as a child or spouse, under certain circumstances. It also allows you to specify how your beneficiaries should use the assets they receive.
Things You Need To Do When a Loved One Passes Away With a Will
Exploring Trusts
In estate planning, a trust is equally vital. By appointing someone of your choice as trustee, you can move assets to a third party, like a child, while dictating when and how they receive and utilize these assets.
A revocable living trust offers a significant benefit by helping your family avoid probate, which can be a lengthy and costly process, taking more than a year to complete and incurring substantial expenses.
Things You Need To Do When a Loved One Passes Away With a Trust
The Strength of a Comprehensive Estate Plan
Top estate planning attorneys recommend combining wills and trusts to create a robust estate plan. While each legal entity can provide solid protection on its own, utilizing both ensures added security for your family, assets and care if you become incapacitated.
Your will outlines specific funeral and burial wishes and names guardians for your minor children, while a living trust helps you plan for medical care, disability, and tax savings for your estate.
Wills and Trusts Can Protect Your Loved Ones and Assets
Begin estate planning at the right time while you are still capable of making decisions. Safeguard your loved ones and assets with wills and trusts, created with the guidance of our trusts and wills lawyers in Cincinnati. Contact us at Krugler Law today!
