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A will is a legal document that outlines how your assets will be distributed after your death and names guardians for minor children. A trust, on the other hand, is a legal entity that holds and manages assets during your lifetime and after your passing, often helping to avoid probate.
A living trust allows your assets to be transferred directly to your beneficiaries without going through probate, which can be time-consuming and costly. It also provides greater privacy and control over asset distribution.
If you pass away without a will or trust, your assets will be distributed according to state intestacy laws, which may not align with your wishes. This can also lead to delays, legal fees, and potential disputes among family members.
A healthcare directive (also known as an advance directive or living will) allows you to specify medical treatment preferences and designate a healthcare proxy to make decisions if you are unable to do so. This ensures your medical care aligns with your wishes.
Yes, when completed correctly, DIY estate planning documents from reputable providers like Everything Living Trust are legally valid. However, they must be properly signed and notarized according to your state's laws.
Simply visit Everything Living Trust's website to begin the process. If you need notarization for your documents, I’m happy to assist you at your convenience.