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Wills let a person’s wishes be known, while a trust can protect assets from probate so that the administration of the estate is easier and so that certain assets are distributed the way you want them to be. You do not have to be a millionaire to have a will or a trust. All you need is property that you wish to protect and wishes for how you want that property distributed once you pass away.
To establish wills and trusts, it is important to work with an experienced Northern Minnesota and Wisconsin estate planning lawyer who has experience in creating wills and trusts that make your wishes known. When you plan in this way for the future, these matters will be much easier for your family.
It is very important that your will outlines your wishes so that your family and any others involved know what you want. You can outline who you wish to administer your estate, you can designate a caregiver for any minor children, and you can state who you want to receive your property. There is a lot that can go into a will so that you can ensure your family is taken care of.
However, you do have to be of a sound mind when you sign the will. Your attorney will draft it, but you will need to sign and your signature will have to be witnessed in order for it to be valid, otherwise the will would not be able to be enforced.
After you have had your will drafted, it is very important to keep it up-to-date so that it is always valid as opposed to outdated, which would leave some of your interests vulnerable.
Wills and trusts are very valuable tools to protect assets and to make your wishes known at the time of your passing. If you do not have a will or trust or you need to update an existing will or trust, the Benjamin Kaasa Law Office can help you. To find out about your options, call us at 218-464-3397 for a consultation.