04/07/2021
Estate and succession planning during COVID-19 pandemic is a must for many!!
The cornerstone of most estate plans is a will or trust. A will is a document that explains what happens to your property after you die. It also nominates a guardian for your minor children if both parents are deceased and names an executor you trust to carry out your final wishes.
A trust provides more flexibility and can explain how to manage your property at the time of your death, as well as if you become incapacitated. You can leave detailed instructions in your trust for any property you transfer to it. Using a trust is an effective way to avoid probate, which is now more important than ever since many courts are closing down, and even typical probate cases often take longer than a year – during which time your loved ones likely won’t have access to your assets.
