Estate plans are becoming more important and complicated than ever before. While it used to be that a simple will was sufficient for even the largest estates, today it is more common for estate planning attorneys to use other legal vehicles like trusts. While it is still necessary to have a will, the trust manages asset distribution far more efficiently than a typical will. The Avon, Ohio estate planning attorneys at Kryszak Law Firm, Co., LLP can help you ensure that your family’s needs are met in the event of your passing.
Your estate planning attorney’s job is to set up a comprehensive estate plan that is adapted specifically to your needs. This means setting up any of the four core estate planning documents. These include:
A trust is like a legal container for assets. There are many different types of trusts. These trusts can be used for asset distribution purposes when you pass. The major advantage of using a trust is that it avoids probate entirely. That means assets pass directly from the trust to your heirs. Trusts also may have tax benefits or be protected from creditors under certain circumstances. For more information on trusts, please call our office.
It is never too early to develop a comprehensive estate plan. With the help of a lawyer, these plans can be updated periodically to reflect a change in your finances, the acquisition of new assets, or any other issue you may have. Call Kryszak Law Firm, Co., LLP today to set up an appointment and we can begin discussing your wishes immediately.