Estate Planning Basics: Wills and Trusts
Although most people do not like to think about dying, putting estate matters in order is a great way to gain peace of mind. Wills and trusts are two of the most common tools people use to express their wishes and preserve wealth.
At Holstrom, Sissung, Marks & Anderson, we listen to our clients' wishes and concerns regarding their estates and carefully draft wills and trust instruments designed to address each of their specific goals. For a free phone consultation with an attorney — call any of our three Southern California office locations directly or schedule an appointment by contacting us online.
Wills
Wills and living wills may vary from extremely simple, single-page documents to elaborate volumes that set forth directives of every imaginable kind. Generally speaking, wills dictate who will receive specific property (the "devisees"), how minor children should be cared for, charitable bequests and a great deal more.
Though many people believe that the establishment of trusts alone can be used to transfer assets, avoid probate court and ensure a smooth transfer of wealth with minimal tax liability, our lawyers advise everyone to have a will as well.
Trusts
Because trusts come in an almost unlimited variety, we won't try to describe every type here. Suffice it to say that there are two general types: Revocable and irrevocable — with each category covering various specific types. Some of the more common specific types we've created for families and individuals in Orange, Riverside and San Bernardino counties include:
- Special needs trusts
- Living trusts
- Life insurance trusts
- Real estate trusts
To learn more about wills or trusts or about any of the other estate planning services we provide — call any one of our office locations or, contact us online.
Free Telephone Consultations / Major Credit Cards Accepted
Orange County: (714) 408-7290 / (866) 586-8231
Riverside County: (951) 817-7665 / (866) 930-1949
San Bernardino County: (909) 327-2065 / (866) 331-9473
