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Get Answers to Your Questions About Wills and Trusts
Speak with an experienced attorney in Madison or Huntsville, AL
Wills and trusts may seem like something that should only be considered in old age. The truth is that early planning in your 30s or 40s can pay huge dividends in the future.Jarvinen & Balch LLC is a trusted law firm in the Huntsville, AL area. We'll educate you on all of your options and help you make informed decisions about your wills and trusts.
As you accumulate more wealth and property, your wills and trusts can easily be adjusted at any time. Call 256-542-9004 today for more information.
Understand the key differences between a will and a trust
Everyone has heard of wills and trusts but few actually know the difference between them. They both serve slightly different purposes and act well together for a complete estate plan. Here are a few of the main differences to consider:- A will only goes into effect when you die. A trust, on the other hand, takes effect as soon as you create it.
- A will must pass through probate, while a trust does not need a court to execute it.
- A will can only cover property held in your name. A trust can include any property transferred to the trust.
Wills are perfect for tasks like naming a guardian for your children and specifying funeral arrangements, while trusts are ideal for holding property or assets for a future date. Your attorney can tell you the best way to use each appropriately.