Trusted Guidance For Creating Wills And Trusts
Wills and trusts are estate planning fundamentals almost everyone can benefit from. At Barbara E. Hecht, P.C., we can provide you with comprehensive estate planning guidance, including the creation of wills and trusts. We will listen closely to you to gain an understanding of the future you want and work diligently to craft legal documents that bring that future to fruition. We serve clients in Kansas City and throughout surrounding areas in Kansas and Missouri.
The Importance Of A Will
A will allows you to designate how your wealth and assets will be distributed upon death. You can also use a will to name the personal representative who will handle your affairs. If you have minor children, you can name a trusted person to serve as a guardian in the event you should someday be unable to care for them.
Many people put off creating a will or think they don’t need one at all. But creating a will is simple and is a wise step for anyone with any assets at all, especially those with minor children. By taking a few simple steps today, you can secure your wishes while sparing your loved ones from potential disputes.
Protecting Assets With Trusts
A trust is a financial tool that allows one party to give money or assets to another party who holds it “in trust” for the benefit of a third party.
There are many different types of trusts. A living trust is created during a person’s lifetime for the purpose of transferring wealth and assets upon death. Some trusts are revocable while others are irrevocable. A special needs (or supplemental needs) trust allows you to set aside wealth to enhance the life of a loved one who relies upon means-tested public benefits.
Trusts perform a number of asset protection goals, including avoiding unnecessary taxes and shielding money from lawsuits and other liabilities. In some cases, a trust allows the property to pass from one generation to the next without that property having to go through probate.
We will work with you closely to help you understand the pros and cons of different types of trusts, so you can rest assured that your assets are protected to the greatest possible extent.
Discuss Your Estate Planning Needs With An Experienced Lawyer
We are here to help you establish wills and trusts that protect your assets and your wishes. To arrange a consultation with an experienced estate planning lawyer, please contact our law offices online or by telephone at 913-766-5793.