Estate and Trust Services
Plan with confidence and protect what matters most. Our estate and trust services help you organize your assets, debts, and final wishes, providing clarity and security for your family. With a legally sound estate plan, you can ensure your assets are managed and distributed exactly as you intend, giving you peace of mind today and for generations to come.
Foundational Documents in an Estate Plan
Last Will and Testament: A will is a legal document that specifies how your property and other assets should be distributed upon your death. It also allows you to name an executor to manage your estate and a guardian for minor children.
Durable Power of Attorney: This document gives a person of your choice the authority to manage your financial affairs if you become unable to do so yourself.
Health Care Directive (or Living Will): This specifies your wishes for medical treatment if you are unable to communicate, lessening the burden of making difficult decisions on your family.
Beneficiary Designations: For accounts like life insurance policies and retirement funds, beneficiary designations determine who inherits the assets and can override what is written in your will.
What Is A Trust?
A trust is a separate legal entity that holds assets for the benefit of a designated person or group, known as the beneficiaries. Unlike a will, a trust can be effective during your lifetime, at your death, or both.
Common Types of Trusts:
- A Revocable Living Trust is a flexible trust that can be changed or cancelled at any time.
- An Irrevocable Trust cannot be easily altered or terminated once it is created.
- A Special Needs Trust is for beneficiaries with special needs and can provide financial support without disqualifying them from government benefits.
Trusts vs. wills:
While a will is a series of instructions for a one-time transfer of assets after death, a trust is a more permanent arrangement that can manage and distribute assets over time, providing greater control and privacy.
Estate and trust planning isn’t just for the wealthy or retired. It’s a smart decision for any adult who has assets and loved ones to protect.
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