Wills & Trusts

Everyone has heard the terms "will" and "trust," but not everyone knows the differences between the two.


Michael Bland, Counsel, Law Office of Julian Davis

Michael Bland Michael is a Personal Family Lawyer® and Partner at Albert G. Stoll, Jr. | A Law Corporation. He is dedicated to assisting his clients design their family’s estate plans to preserve their personal and financial well-being. He believes in forming life-long relationships with his clients by not only working with them on their initial estate plans, but by continuing to monitor the effectiveness of their plans as his clients’ life circumstances (and the law) change. By doing this, his clients’ plans stay current and properly funded so that when it comes time for the plans to work, they work exactly as his clients expected them to. He helps his clients transfer more than just their family’s financial assets to successive generations. He has unique systems in place for grandparents and parents to pass along their priceless family history and life stories, as well as their intellectual, spiritual, and family values to future generations.

Related Services

Revocable Living Trust

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Determine who will get your property when you pass away. Putting in place a living trust helps you avoid probate.

Will

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Get a will in place. Determine beneficiaries for your assets, appoint guardians for minor children and make sure that your wishes are carried out.


Wills & Trusts

Wills

A will is a set of instructions that lists what will happen to your property once you die, names a guardian for your children and for your children’s property, how your debts and taxes will be paid, and what will happen to your pets.

Almost every state has the same basic requirements to create a valid will: capacity, creation, signature, and witnesses.

Trusts

A trust is a legal entity that you can place your assets into. Creating a trust gives you more control over your assets because you get to design the rules of the trust. You decide how, when, and where the assets in the trust are distributed to a heir or beneficiary.

There are several benefits to setting up a trust. First, the assets in the trust do not need to be probated. If you establish a revocable living trust that terminates when you die, the assets in the trust will pass immediately to the beneficiaries. This saves your beneficiaries time and money. Other benefits include tax advantages for the creator of the trust and the beneficiaries, privacy from the public probate process, and the continuing effectiveness of a trust even if the creator dies or is incapacitated.