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Deciding between a will or a trust

Deciding between a will or a trust

On Behalf of | May 19, 2018 | Wills And Trusts

Many different challenges related to estate planning can arise, such as finding someone to take on the responsibilities of being an executor to replacing an executor in the wake of a divorce. Some people are better-suited for a trust, while it makes more sense for others to move forward with a will. There are many differences between the two and each has their own set of advantages. Even though this can be a difficult decision for people who are facing certain circumstances, it is excellent that people understand the importance of carefully going over all estate options before settling on a particular plan. After all, there are a number of options when it comes to estate plans.

Aside from deciding whether or not a will or trust is appropriate, some people have difficulty making up their mind with respect to selecting the right type of trust or will. For example, some people set up a special needs trust because it makes the most sense for a loved one, while others opt for a charitable trust or a revocable trust. These are just a few of the options out there and it is critical for you to closely examine your personal circumstances if you are having difficulty deciding which type of estate plan will suit your needs the best.

Once you have pinpointed the right type of estate plan for you, you will likely have more confidence and may even feel a sense of relief. Our trusts and wills page has more on creating an estate plan.

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