People who want to be conscientious about their lives will find it their duty ensure the arrangements of their final estate. So many people die intestate and leave their affairs in quite the legal mess. It leaves their loved ones in confusion as to how their assets and debts will be handled. Thus, the responsible party will hire an attorney experienced in estate affairs to make sure these things are taken care of. There is a Wills And Trusts Attorney in Moline IL who helps clients get these things in order. These are some important things to keep in mind about wills and trusts.
The first thing a potential client may want to know is the difference between a will and a trust. The main difference is that a will goes into effect after the person dies. The trust becomes effective after it is created. The trust also must be placed in the name of the person to benefit from the trust. Trusts can remain private, while a will becomes public knowledge. Also, a trust need not pass through a probate court, which will save a lot of money and time.
Wills are set up to allow the benefactor to name a guardian for the children, and also allows for making of funeral arrangements. This cannot be done with a trust. However, a trust can allow the benefactor to make provisions for disabilities, and to also save a lot of money on taxes. Those who have trusts usually have two beneficiaries. The first set of beneficiaries receives from the trust during their lifetime. The second set receives from the trust after the first set has died.
The Law Office Of Raoul J LeClerc has been serving the legal needs of the clients in the Moline IL, California area for over five decades. The attorney has been helping clients sort out their details for wills, trusts, elder law, and civil litigation during that time. If a client has real estate needs, estate law needs or other matters that require legal advice similar to estate law, the law office is available. To get advice from a Wills and Trusts Attorney in Moline IL, visit the website.
