Frequently Asked Questions (FAQs)
Q: What is a trust, and how does it differ from a will?
A: A trust is a legal arrangement specifying asset distribution, often without probate. Wills only take effect after death, potentially requiring probate.
Q: Why might someone consider a trust?
A: Trusts offer specificity, control, and flexibility in asset distribution, making them suitable for various estate planning goals.
Q: Are there disadvantages to trusts?
A: Establishing a trust can be more complex and costly upfront, but it can save heirs money by avoiding probate. Contrary to common belief, trusts benefit individuals regardless of their wealth.
Q: What are revocable and irrevocable trusts?
A: Revocable trusts allow changes during your lifetime, while irrevocable trusts, once established, cannot be altered and can offer estate tax benefits.
Q: Do I still need a will if I have a living trust?
A: Yes, a will is essential for transferring assets not placed in the trust during your lifetime and for naming a personal representative and guardians for minor children.
Personalized Guidance is a Call Away
Creating a trust is a significant decision that impacts your family’s future. Whether you’re considering your first will or need to update an existing one, it’s essential to ensure it accurately reflects your intentions and adheres to legal requirements. At Dahlberg Law Group, our experienced team can guide you through the process of creating a trust that protects your assets, secures your children’s future, and provides you with peace of mind. Our legal experts will work closely with you to understand your unique circumstances and preferences, ensuring your will stand up to legal scrutiny. If you’re ready to take the important step of crafting your trust or need assistance with estate planning, please don’t hesitate to reach out to us. Contact our team today, and let us help you secure your family’s transition for the future.
What types of estate Planning cases do You handle?
Power of Attorney
Appleton, WI 54914
Jackson, WI 53037
Wauwatosa, WI 53226
Sheboygan, WI 53081