We all like to think we will live forever, but unfortunately that’s just not true. If you’re responsible for other people or have assets, it’s important to have a will or trust in place for those you leave behind. Traditionally, a will or trust involves bringing in expensive lawyers and a bunch of confusing jargon. Thankfully, one company has brought this not so exciting task into the 21st century. Trust & Will makes it easy to create a will and set up a trust or guardianship all online with no visits to a lawyer.
What Is A Will?
A will is a legal document that dictates the distribution of your assets after death. It can also be used to appoint guardians for minor children. If you don’t have a will in place, the state in which you live will decide how your assets are divided.
Why Do I Need A Will?
If you have a family, you should have a will in place that dictates:
- How your assets will be divided.
- Who is responsible for dividing the assets.
- Who is responsible for the care of you children in the event you and your partner die.
A will makes a terrible time less miserable because your loved ones won’t be left guessing or fighting over what your final wishes are. This will provide you peace of mind knowing your family is taken care of.
I Don’t Have A Family, Do I Need A Will?
If you have pets and other assets, you should have a document that outlines what happens to them after you die. You can set aside some money out of your life insurance policy for a loved one to care for your pets should something happen to you. If you want to spare your pet from the pound, a will is a great start.
What is a Trust?
A trust is a fiduciary arrangement that allows a third party (trustee) to hold the assets of a beneficiary or beneficiaries. If you have a significant amount of wealth that will be transferred after your death, having a trust is a good idea. It can also help your loved ones avoid tax liabilities.
Trusts can be set up for beneficiaries who may not have the capacity to make financial decisions. This includes minors, pets, or those who are mentally or physically unfit. This money is protected from creditors and taxes that would otherwise not be protected in the case of a will.
How Does Trust and Will Work?
Trust & Will makes the whole process of creating a will, trust, or guardianship super streamlined. All you need to do is answer some questions and fill out some forms. Then, the documents are automatically generated and sent to you to sign and notarize.
Is Trust and Will Hard To Use?
The most difficult part of creating a will is realizing that we are not immortal. The rest is a breeze! Trust & Will breaks down all the legal jargon and makes everything simple and easy to understand. They will ask you about your assets, who the will executor will be, and what you want your final arrangements to be. If you have children, they will also ask who will retain guardianship should something happen to you and your spouse.
What Am I Waiting For?
I don’t know! Tomorrow is not promised to anyone. You could have your will done in as little as 20 minutes on Trust & Will, so there is nothing holding you back now.