Protect your assets and provide support and financial stability for your surviving relatives with an Estate Plan. The Lewis & Matthews Law Firm will help you establish a will, trust and power of attorney to ensure your family is taken care of after your passing.
What Is The Difference Between A Will And A Living Trust?
One main difference between a will and a trust is that a will goes into effect only after you die, while a living trust takes effect as soon as you create it. A will is a document that directs who will receive your property at your death and it appoints a legal representative to carry out your wishes. By contrast, a trust can be used to protect and distribute property before death, at death or afterwards. The Lewis & Matthews Law Firm can tell you how best to use a will and a trust in your estate plan.
Advantages To Having A Living Will
A living trust is a written legal document through which your assets are placed into a trust for your benefit during your lifetime and then transferred to designated beneficiaries at your death by your chosen representative, called a “trustee.”
Although educating yourself about living trusts and other forms of financial planning is wise, you can hardly be expected to become an expert in the matter overnight. The Lewis & Matthews Law Firm can use their knowledge of the law and experience in estate planning to help you establish a trust that meets your individual needs.
A Will Becomes Effective Only After You Die
The best way to ensure that your estate — including all of your belongings and financial holdings — is handled according to your wishes is to write a will. A well-written will can make the process of transitioning property to survivors relatively pain-free, while also offering a chance to express personal sentiments toward loved ones. The process of creating a legal document can be a daunting task, and legal formalities must be complied with to ensure that your will is enforceable. That’s why many people turn to Lewis & Matthews for assistance with these important documents. We can simplify the process.
Power of Attorney
A power of attorney is used during those moments in life when it is necessary to get a trusted confidant to act on your behalf. By detailing how you want matters regarding your health and finances handled in the event of an emergency, you are sparing your family and friends the unpleasant task of making such decisions in a stressful time. If you need help drafting a power of attorney, consult Lewis & Matthews for advice about your individual situation. There are certain requirements you need to fulfill in order to properly execute any type of power of attorney.
Call Lewis & Matthews, P.C. today in order to consult with us regarding your estate planning needs.