Many people disregard the importance of having an estate plan because they believe they are too young or do not have enough wealth to justify drafting a will. In reality, having a carefully drafted will is an important step for everyone, regardless of age. At Trotto Law Firm, P.C., we help younger individuals draft important estate planning documents.
It is impossible to predict the future, but our New York estate planning lawyer will help you draft an estate plan that provides you with long-term security. We can help you understand your options and move forward with a plan that suits your individual needs and objectives.
A will is not a document reserved only for the old, ill, rich or famous. We create wills for younger people and people of any age. A simple will can provide you and your loved ones with peace of mind for the future. Some of the reasons why you may need a will include the following:
If you do not have a will, there is no time to lose to put the appropriate protections in place through a carefully considered and professional estate plan drafted by an attorney.
The main difference between these two estate planning documents is that a will is enacted after you die and shows your last wishes. A will controls your probate assets when you die and must be administered through Surrogate’s Court.
Whereas, a trust helps protect assets even while you are still alive. A trust does not require court intervention to administer and there are fewer costs. Trusts are also more versatile in distribution of assets than using a will.