Many Kent area residents may not want to think about estate planning and what happens to their assets after they die but it is an incredibly important topic. We all work really hard for our money, property and other assets so it is important to protect them after death. Trusts and estate planning are a way to help protect a person's fortune after they die.
There are many different kinds of trusts that can be included in an estate plan. A charitable trust can be set up to give money to a favorite charitable organization after death. A testamentary trust is a way to distribute assets to beneficiaries, usually through a surviving spouse. The assets can be distributed through various other trusts including credit shelter trusts, special needs trusts, marital trusts or trusts for minors. Last week we discussed a spendthrift trust and whether that would be a good option for a family with beneficiaries that may not be good with money or for other reasons.
Every family and their estate planning needs are different. There are so many different estate planning options available for families and our firm has the skills and knowledge to make sure every tool is used when developing an estate plan. We have the experience to make sure your estate planning goals are met and your wishes are honored. We can help draft wills, trusts, community property agreements, guardianships, living trusts and probate issues. We can help with the most basic estate planning needs to the most complicated as we believe all families should have an estate plan.
Although thinking about one's death or incapacitation can appear to be an unpleasant situation an estate plan can help a family feel like they are prepared. Our firm has been helping families for over 30 years organize their estate plan and make sure their needs and wishes are met.