Family Trusts vs. Wills: What Are the Differences Between These Estate-Planning Options?
By: Cynthia Measom
No one relishes the thought of the day they pass away and leave all their worldly possessions behind. However, it’s a certainty that no one can avoid. Thankfully, you have options for planning for what happens to your estate, including a will or a family trust.
“Family trusts and wills are both solid estate planning tools that can ensure your assets are protected and will pass to heirs the way you wanted,” said Chuck Czajka, a certified estate planner with Macro Money Concepts in Stuart, Florida.
But which one should you choose? Or should you choose both? Here’s what you need to know about the differences between family trusts and wills (including whether you need both options) to help you avoid estate planning mistakes.
The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual.
Cynthia Measom is not affiliated with US Wealth Management, LLC and LPL Financial.
This information is not intended to be a substitute for individualized legal advice. Please consult your legal advisor regarding your specific situation