There are many benefits to writing your will and setting up a trust. Even if you do not have considerable assets or holdings, having a written will and a legally binding trust in place can help your beneficiaries in numerous ways. You never know when you may die, and incapacitating accidents can also lead to issues with handling and managing your estate. For elderly people, it is also advisable to have a will so that your loved ones know and can clearly follow your wishes once you pass away. When it comes to trusts, setting one up is a great way to ensure sound financial planning and behavior by your children or others whom you want to include in the trust, especially since provisions for receiving payouts can be included in the trust.
To learn more about the kind of structure, setup, and considerations you need to know about when it comes to wills and trusts, contact our New York will lawyers today.