Will-Based Estate Plan
Estate Planning FAQs
To help you make an informed decision about which Estate Planning service is right for you and your lifestyle, we’ve answered a few common questions about Estate Planning below.
What Are the Benefits of Estate Planning?
If you fail to plan, the state where you live will distribute your property according to the law without regard to your wishes. The Estate will be subjected to court costs and lawyer’s fees as it is probated in the courts.
What Are the Steps of Estate Planning?
Next, select your beneficiaries and how your assets are divided. You can also determine who will handle your financial and medical affairs if incapacitated.
Then, discuss the issues with your heirs, ensuring they understand your intentions. Finally, select your desired service from GoWillTrust to make your wishes official and legally binding.
What Is the Difference Between a Will and a Trust?
A Trust is a legally binding arrangement that can be organized in multiple ways that allow a trustee to hold the assets and pass them to beneficiaries at a specified time. With a Trust, the beneficiaries can avoid the probate process and more quickly receive their inheritances.
Some Trusts allow you to access your assets throughout your life and control the timing and recipients of asset distribution upon your death. In general, it is much more versatile than a Will.