People who plan for their future tend to have more positive experiences for themselves and their loved ones. Planning can be beneficial in various aspects of life, including college for minor children, retirement and even death. While preparing for some events may be more pleasant than others, there is value in all of these types of planning. Although there might always be time to plan for college or retirement, no one knows when it will be too late to start planning their estate.
Estate planning can be simple or complicated. A person without a lot of assets may only need a simple will to tell the courts how to distribute their belongings. However, for those who have a lot of assets or who have children from more than one marriage, it might be helpful to consult with Estate Planing Law Attorneys in Topeka, KS to ensure the estate is structure properly.
For many people, a trust is a good choice. This gives a family more options and can help a parent ensure all of their children get a portion of their estate. Experienced estate planing law attorneys in Topeka, KS may help a client write a detailed trust that will give them the security and privacy they need. Unlike a will, a properly structured trust is not public record. Assets can be transferred directly to their intended recipient without involving the probate court in the matter.
A trust is a very flexible estate planning tool. It can be changed at any time and should be reviewed regularly. The assets included in a living trust remain under the control of the owner so they can sell or donate their property whenever they want to and simply change the terms of their trust. Parents who divorced and remarried are able to ensure their children from a previous relationship are able to receive their fair share of their parent’s assets without having to get their inheritance from their step-parent.
Browse our website right away to get started on an estate plan that will help a person prepare for any type of family situation. The sooner a person gets started on their estate plan, the more likely they will be to have their wishes respected after their death.