Wills & Trusts
What’s the difference between Wills and Trusts?
From Charles Schwab magazine “On Investing” Winter 2007 wills have limitations and must go through probate which is the legal process used to value your estate, settle debts, pay taxes and transfer assets to heirs, all of which can be costly and time consuming. Wills are public documents subject to public scrutiny. Anyone can contest a will.
A living trust can provide more flexibility and control than a will alone. You can transfer your assts into a trust, which can pass directly to your heirs when you die-avoiding probate. In essence you retain control of your assets.
The reason wills and trusts are important is for you to protect your wealth for you and your heirs. Wills and trusts are part of your wealth protection plan. I strongly advise an estate-planning attorney to help guide you through this process. For more information checkout www.schwab.com
Dr. Michael J. Kaye
Knowledge, Action, results
From Charles Schwab magazine “On Investing” Winter 2007 wills have limitations and must go through probate which is the legal process used to value your estate, settle debts, pay taxes and transfer assets to heirs, all of which can be costly and time consuming. Wills are public documents subject to public scrutiny. Anyone can contest a will.
A living trust can provide more flexibility and control than a will alone. You can transfer your assts into a trust, which can pass directly to your heirs when you die-avoiding probate. In essence you retain control of your assets.
The reason wills and trusts are important is for you to protect your wealth for you and your heirs. Wills and trusts are part of your wealth protection plan. I strongly advise an estate-planning attorney to help guide you through this process. For more information checkout www.schwab.com
Dr. Michael J. Kaye
Knowledge, Action, results
Labels: Estate planning, Investing, Schwab, Trusts, Wills
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