The estate planning process is so complex that it deters some people. The fact is, however, that having solid estate plans in place can provide you with the peace of mind you are looking for.  Having professional legal counsel on your side can streamline the process and bolster your confidence in the future. The most important step you can take on your journey forward is consulting with an experienced estate and trusts lawyer at Mette Law sooner rather than later.

Planning for What Comes Next

A driving force behind plans that relate to estates and trusts is determining how your estate, or everything you own, will be distributed to your loved ones at the time of your passing. It is essential to take each of the following into careful consideration:

• Ensuring that your wishes are upheld
• Streamlining the probate process and related costs for your beneficiaries
• Bypassing probate to the degree possible, which can help reduce the related stress, expense, and lag time your loved ones experience at the difficult time of your death
• Minimizing tax implications

Your Will

Both your will and any trusts are essential tools for managing your estate. In your will, you’ll name a trusted administrator who is tasked with overseeing the probate process, including the distribution of your assets in accordance with your wishes.

Trusts

Trusts are estate-planning tools that allow the creator (or grantor) to manage and distribute their assets according to their specifications. In the process, trusts provide both grantors and beneficiaries with important protections.

How Trusts Work

In a trust, a legal arrangement, a trustee holds and manages assets in accordance with the terms set forth and for the benefit of the named beneficiaries. The related benefits include:

• Trusts have more legal flexibility than wills do
• Assets put in trust avoid the probate process
• Trusts can help minimize the inheritance taxes beneficiaries experience
• Trusts offer beneficiaries considerably more privacy than wills do

The Revocable Living Trust

While there are several types of trusts, the revocable living trust is one of the most common and flexible. Revocable living trusts can be modified or revoked at any time during the grantor’s lifetime. Furthermore, the grantor maintains control over the trust assets for their lifetime.

Trusts help to ensure the seamless management of assets in the event the grantor is incapacitated. They also allow all assets held in trust to bypass probate.

Our Estates and Trusts Attorneys Are on Your Side

A seasoned Williamsport estates and trusts lawyer at Mette Law has extensive experience helping valued clients like you implement well-considered estate plans that provide considerable peace of mind. We’re here for you. Contact us online or call 717-232-5000 today.