Estate Planning’s Bests: Wills & Trusts
For some people, it is extremely difficult to contemplate their death or to think about the possibility of becoming incapacitated. However, creating a plan for these unfortunate scenarios is vitally important to ensure your estate is handled according to your wishes and that your loved ones receive the support and security you have worked so hard to provide them.
One of the easiest and most common ways to make sure your wishes for your estate are respected after your death is to create a will that precisely states how your assets are supposed to be managed.
Why You Need a Will or Trust
Any responsible person with assets to protect and people to support must think about making a will since it is much more than the division of an estate and not something exclusively designed for wealthy people.
A will gives you control over non-financial issues, such as appointing a guardian for any minor children after your death, allowing you to name an executor of the will, who, in a few words, is a person you trust to make sure the will is followed by your wishes.
Another type of estate planning tool that may be very useful is a trust which can transfer funds from one party to another and does not necessarily exclude the need for a will. A trust is an alternative way of handling assets without going through a lengthy probate procedure.
Trusts can also be used to reduce taxation and as an effective way to financially assure your family’s current and future well-being.
Wills and trusts, as well as some other less popular estate planning mechanisms, include the creation of legal documents and structures that allow your wishes for your estate to be fulfilled even after you pass away. Once formalized, it is important to remember to review your estate plan periodically or when a significant life event that may change your plans occurs, such as a divorce or the birth of a child.
The Help You Need with Your Estate
The Law Offices of Howe and Garside, LTD have years of experience in the formalization and legal designing of wills and trusts and will do everything we can to help you make the right decisions for your best legal outcome.
The Law Offices of Howe and Garside will assess your legal concerns and handle your case with the attention it deserves. Contact us today or use our online contact form to schedule a free consultation.
The Law Offices of Howe and Garside, LTD provides highly experienced legal solutions in Newport, Lincoln, Middletown, Portsmouth, Warwick, Greenwich, Kingstown, Tiverton, and the surrounding Rhode Island communities.
55 Memorial Blvd. Suite 5
Newport, RI 02840