Last Will & Testament
One of the most common and frequently used estate planning instruments is the Last Will and Testament. In its most basic form, a will is a legal document by which a person (the testator) disposes of his or her real and personal property after death. For many individuals, a Last Will and Testament is a simple and uncomplicated way to address their estate planning needs. A will does, however, have certain limitations. For instance, a will does not help you to avoid death taxes or keep your estate out of probate.
If your estate planning objectives include the avoidance of probate and the reduction or elimination of death taxes, a revocable living trust may be the more appropriate estate planning instrument for you. Much like a Last Will and Testament, a trust provides what happens to your property in the event of your death. When you create a trust and act as the trustee, you remain in control and have the power to change the trust at any time. A properly executed and funded revocable trust allows you to avoid the delays and costs associated with probate. Call us today at 1-800-798-0997 to discuss your estate planning options.
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