Wills vs. Trusts: Which One is Right for You?
Jan. 16, 2023
There are many factors to consider when creating a will or a living trust. From the accommodations that need to be made to deciding what to leave behind and to whom, it may be challenging to pinpoint where to start. That is why I have dedicated my career as an estate planning attorney to helping people create dependable plans for their families after they have passed away. While there are many similarities to wills and trusts, the differences can be key to choosing which option is right for you. Do you need help deciding whether a will or trust is best for your family? Get in contact with my firm at KSMH Law Group, PLLC, in San Antonio, Texas, and schedule a free meeting. I also provide my estate planning services to the areas of Kirby, Live Oak, Leon Valley, and Universal City, Texas.
The main objective of drafting a will or trust is to name beneficiaries for your assets and properties after your death. However, there are a few differences that you should know about before you been the process of writing either of these documents. A knowledgeable estate planning attorney can help you decide which is right for you.
Advantages of a Will
There are many advantages to leaving a will behind after your death. A will is easier to make than a trust, and you are allowed to make revisions to it in the future. If you have children or grandchildren, there are many benefits that can make their lives easier in the future. In a will, you are able to leave property to minor children as long as there is an adult to manage the property until the child’s 18th birthday. You are also able to name guardians for minors. Upon your death, you can have an executor handle your wishes for you and are even able to instruct them on how your debts and taxes should be paid.
Disadvantages of a Will
While there are many benefits to the creation of a will, there are some drawbacks that you should consider. A will can be challenged, made public, and put through the probate process. Also, a will does not avoid any conservatorship issues that might arise after your death which can create issues for your loved ones. If you or your family lives in San Antonio, Kirby, Live Oak, Leon Valley, or Universal City, Texas, and need to discuss whether a will is right for you or not, contact me and schedule a free consultation.
Advantages of a Trust
As stated before, when creating a living trust, you will be able to name beneficiaries of your assets and properties. This is a legally-binding document that you are allowed to make revisions on until you are satisfied with its outcome. In contrast to a will, a trust will remain private after your death and does not have to go through the probate process. You are also able to avoid conservatorship issues, unlike a will.
Disadvantages of a Trust
While a trust is ideal for individuals or families with larger net worths, there are some drawbacks that can change your outlook on creating one. Due to the complexity of the process, a trust is more time-consuming and expensive to create. That is why having an experienced estate planning attorney at your side can be beneficial. You are also not able to name a guardian for your minor children or leave instructions on how you would like your taxes and debts to be handled. Talk to me today in San Antonio, Texas, and let’s discuss whether a will or a trust is better for you. As your attorney, I will help you make long-lasting and beneficial decisions for your family and loved ones.
What Makes Me Different Than Other Attorneys?
I am dedicated to making your estate planning process as easy as possible. There are many factors that come into play, and I want to help you and your family move forward with your lives as seamlessly as possible. Unlike other attorneys in San Antonio, I operate on a flat-fee basis and can create a payment plan so that you will know how much you will be spending throughout our tenure together. I also have a funding coordinator on staff so that you can measure your finances for years to come. Along with that, I have a membership program that can help you stay up to date on everything and give you access to my services as an attorney. Want to learn more about how I work for you? Reach out to me today.
Choose the Right Option for You Today
It can be difficult to choose whether a will or a trust is the right plan for you. As your estate planning attorney, I will give you advice and guidance that you and your family can trust to result in lifelong benefits. Tell me about your situation today and contact me at KSMH Law Group, PLLC, in San Antonio, Texas. I also provide my services to Kirby, Live Oak, Leon Valley, and Universal City, Texas.