Plan Your Legacy with Expert Estate Management Guidance
Secure Your Legacy with Expert Estate Planning. My Legacy Management crafts bespoke solutions to protect your future and ensure your wishes are honored.
Hear from the Attorney Behind Our Clients’ Trusts (ITS)
Frequently Asked Questions
Answers to Your Key Estate Planning Questions
What is the difference between a will and a trust
A will outlines asset distribution after death, while a trust manages assets during life and beyond.
Why do I need an estate plan?
Estate planning ensures assets are distributed as you wish, reduces taxes, and minimizes disputes.
What happens if I die without a will?
If you die without a will, your assets will be distributed according to state intestacy laws, which may not reflect your personal wishes. This can often lead to family disputes and unexpected beneficiaries receiving your assets.
Can I handle estate planning myself using online tools
While online tools can provide a starting point, they often cannot tailor plans to your specific needs and may not account for all legal intricacies. Consulting with an experienced estate planning attorney ensures that your estate plan is valid, legally binding, and customized to your situation.
How often should I update my estate plan?
You should review and possibly update your estate plan every 3-5 years or after significant life events such as marriage, divorce, the birth of a child, the death of a beneficiary, or significant changes in your financial situation.
What is involved in probate administration?
Probate administration involves validating the deceaseds will, inventorying assets, paying debts and taxes, and distributing remaining assets.