People who want to be conscientious about their lives find it their duty to ensure the arrangements of their final estate. Many people die without a will, leaving their affairs in quite a mess. It leaves their loved ones in confusion as to how their assets and debts will be handled.
That’s why the responsible party will hire an attorney experienced in estate planning to make sure these things are taken care of. Grimaldi Law Firm is a Wills And Trusts Attorney in Miami, FL who helps clients get these things in order.
However, 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 allow for the 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.
Grimaldi Law Firm has been serving clients in the Miami, FL. The attorney has been helping clients sort out their details for wills and trusts during that time. If a client has real estate needs, estate law needs or other matters that require advice similar to estate law, the law office is available. To get advice from a Wills and Trusts Attorney in Miami FL, visit the website.
