Nobody likes to imagine a future after they have passed on but preparing for this eventual reality with a will or trust will ensure your assets are in order when the time comes. Wills and trusts can help ensure that your family will have the right financial means after you pass on and your assets and property are protected. Kassabian & Kassabian, P.L.C., is here to give you peace of mind. We can help you create a will or trust to ensure your final wishes will be carried out after your passing. We understand that this can be an emotional and stressful process, but we strive to make it as straight forward and as easy as possible.
Although you can never plan when or how you will die, you can plan for what will happen after you pass on. Very common for both large and small estates, wills allow you to name beneficiaries who are eligible to receive a division of your assets. With a will, you can name who will take care of your children or grandchildren, name who will manage the children's property, instruct how remaining taxes should be paid, leave pet care instructions and more. Wills are very important for not only ensuring you name the best person or people to control your assets but also ensuring your loved ones will be taken care of when you're gone.
We highly recommend that everyone has a will to specify what will occur after their death. Our attorneys will help you write a comprehensive and understandable will that covers every detail you want protected, offer witnesses and ensure the document becomes legal.
The person who executes a will is called the Testator. A will provides the Testator the means of transferring ownership of all or part of the probate assets owned by him/her at the time of death to the beneficiaries named by him/her in his/her will on terms and conditions specified by the Testator therein. The Testator in his/her will has the power to transfer ownership of tangible and/or intangible personal property and/or real-estate or any interests therein wherever located. The Testator has the power to specify in his/her will the choice of the Executor and/or Substitute Executor and/or Guardian of the Person of the Testator's minor children. The Testator's chosen Executor will administer the Testator's probate assets.
Trusts & Revocable Trusts
While a will names the beneficiary of your estate, trusts specify how and when your assets and property will be divided among your beneficiaries. Trusts are typically called living trusts because they not only outline what will happen to your assets after death, but while you are still alive as well. Trusts allow you to name beneficiaries for your property, divide your assets and property, avoid a probate, and more.
Trusts can be both revocable and irrevocable. Revocable trusts can be revoked or amended (in whole or in part) while you are still alive. With this type of trust, the individual or their beneficiary maintains control over their property. Irrevocable trusts cannot be altered or revoked. With irrevocable trusts, the individual who made the trust or the beneficiaries do not own the items, and an independent trustee will determine what happens to their assets. To provide the largest amount of planning and protection, you should have both a will and a trust.
Prepare for the Future With Kassabian & Kassabian, PLC
At Kassabian & Kassabian, P.L.C., our attorneys are skilled at helping our clients protect their assets after they have passed on. While this task can be emotionally challenging, we help you plan with care and compassion to ensure that your loved ones have everything they need and that your assets and property will be protected. With decades of experience, trust us to give you peace of mind for the future.
Contact us today to start planning your will or trust. (703) 750-3622.