Have you ever had questions about estate planning, such as, what is estate planning? When do I need to begin the process? What types of documents do I need? Does a will suffice? Or should I set up a trust? If you have wondered about any of these things, then skilled Missouri estate planning attorneys can help.
Estate Planning: What Is It?
Estate planning is essentially a formal title for management of your property after your death. This includes all real estate, personal property, savings, checking, etc. Estate planning clearly delineates a plan of action for how you want family members to handle your affairs after you are gone.
Will or Trust: Which is Better?
One part of estate planning is to decide if you would like to create a will or trust. As its name implies, a will is your last will and testament and is a legal document that instructs how you want your assets distributed after your death. A trust is also a legal document but with the sole purpose of protecting your estate or assets. A trust is typically recommended for people who want to avoid probate or wish to keep their finances private. The main difference between a will and a trust is when it becomes in effect: a will is executed at the time of death while a trust can take immediate effect.
Why You Need an Expert Estate Attorney
-Expertise
Missouri Estate planning can be quite overwhelming with countless options available. One reason you should hire an estate law attorney, is for their expertise. A professional attorney will have the skills and knowledge to effectively guide you through the entire estate planning process, while keeping your best interests front and center. At Grayson and Grayson, LLC, you can rest assured that our attorneys will be able to advise you on the best course of action to meet your needs.
-Compliance
Another reason why you should hire a professional estate law attorney is to ensure that your estate plan is compliant with current state law. Laws concerning wills and trusts vary from state to state and can change over time. As such, your estate planning documents may need to be revised to remain compliant.
Don’t Wait to Start Planning
If you need help with estate planning, whether you are at the beginning of the process or need to update your documents, do not hesitate to contact Grayson and Grayson, LLC at 573-635-0308 to set up your consultation today. You can be confident in our attorneys’ abilities to create a unique plan that meets your needs.