Personalized And Knowledgeable Legal Guidance To Draft Your Will Or Trust
Planning for the future may be a delicate and difficult ordeal. However, it could help you prepare before an adverse event. When it comes to your assets, property and welfare of your loved ones and business, an estate plan can help you prepare for the unexpected.
At rb LEGAL, LLC, in Golden Valley, our attorneys have the experience required to guide your decision-making to choose the right legal tools. Two of the most well-known legal instruments used in estate plans are wills and trusts. But, when do you need a will? What are the benefits of having a trust?
How Can A Will Help You Protect Your Assets And Loved Ones?
A will is a document enforceable only after the passing of the testator, the person who drafted the will. Through a will, you can leave property, assets and wealth to beneficiaries and name guardians for your children. You may also name conservators for family members who need legal representation in financial affairs.
All wills should go through probate, a process in which a Minnesota court validates the document and supervises asset distribution to the relevant beneficiaries. Probated wills are made public after your passing.
Characteristics Of A Trust
A trust is a document that allows passing your property at a given time. Property may be transferred to a trust and further administered by a trustee ̶ an individual or company/firm ̶ for the benefit of relevant beneficiaries. A trust remains private even after the settlor’s (the person who drafted the trust) death. Moreover, property designated as part of a trust does not have to go through probate.
A Dedicated And Personal Approach
An estate plan may include both a will and a trust, according to your specific needs. Our attorneys dedicate time and effort to understand your needs and expectations and draft an enforceable estate plan according to your wishes. Our priority is to secure your loved one’s future and give you peace of mind after protecting what you care about the most.