Preserving Their Estate
The large majority of families are only concerned about passing on their savings to their children. Complicated trusts and estate plans are not always necessary, although that's what you often read about on the internet. In most situations a simple Last Will and Testament will address your needs, although it is best to discuss your selection of a personal representative, adding children's' names to your accounts, gifts, planning for unforeseen events and many other legal issues with a professional. That said, trusts do have their place in even small estates. It is often the best vehicle to provide for a child who has not made the best life choices or has difficulties managing money. A trust is also a good tool to use should you want to provide for a loved pet. At Prince Law Offices we're prepared to assist you in drafting your Last Will, making appropriate decisions and selecting the appropriate tools.