Provisions in a will and trusts can avoid conflict among siblings by designating bequests, naming a representative and including a road map for administering the estate. Funeral arrangements may be included. In the digital age, you may want to include a list of direct debits and online accounts with access information.
Varied trusts exist. Based on your circumstances and goals, our lawyers can suggest which will best meet your needs. A trust may be required when a loved one has a history of poor money management and would immediately spend a gift on unnecessary expenses. Several specialized types of trusts also exist:
A living trust, which may be a vehicle to avoid probate.
- A special needs trust that makes sure a gift does not make the beneficiary ineligible for government benefits.
- An irrevocable trust for asset protection.