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Wills & Trusts

Wills: Your Personal Blueprint for the Future

A Last Will and Testament, commonly known as a will, is a legally binding document that allows you to specify how your assets will be distributed upon your passing.

It also permits you to designate guardians for minor children, should the need arise. A will serves as a cornerstone of your estate plan, offering a clear roadmap for the orderly transfer of your assets and the protection of your loved ones.

With decades of experience in estate planning, our dedicated team has assisted countless individuals and families in creating wills that reflect their wishes and circumstances. Our wills and trust attorneys are well-versed in the intricacies of will drafting, ensuring that your document is legally sound and tailored to your specific needs.

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The Benefits of Creating a Will

  • Asset Distribution: Allows you to specify how your assets will be distributed among your chosen beneficiaries.

  • Guardianship Designation: Designates guardians who will provide care and support for your children in your absence.

  • Minimizing Conflict: Prevents disputes among family members by clearly outlining your intentions and wishes.
  • Executor Appointment: Appoint an executor to manage your estate and ensure your wishes are carried out.

  • Peace of Mind: Provides peace of mind, knowing that your loved ones will be taken care of according to your desires.

Changing a Will

Life is everchanging, and circumstances may evolve after you’ve created your will. Fortunately, it is possible to modify or update your will to reflect these changes. Common reasons for amending a will include marriage, divorce, the birth of a child, the acquisition of new assets, or changes in your preferences regarding beneficiaries or executors.

To change a will, you can either create a new one, referred to as a “codicil,” or revoke the existing will and create a completely new document. It’s crucial to consult with an experienced attorney to ensure that any changes are executed correctly and in compliance with evershifting state laws.

Trusts: Building a Secure Foundation for Your Legacy

A trust is a legal arrangement that allows you, the grantor, to transfer your assets into the care of a trustee. The trustee manages and distributes these assets to beneficiaries according to the terms specified in the trust document. Trusts offer a flexible and versatile means of estate planning, often allowing for more control over the distribution of assets and enhanced privacy compared to wills.

Kinds of Trusts Tidwell & Associates Can Help With

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Revokable Living Trust

This trust allows you to maintain control of your assets during your lifetime while simplifying the transfer of assets to beneficiaries upon your passing, avoiding probate.
contract drafting for real estate law

Irrevocable Trust

An irrevocable trust transfers assets out of your estate, potentially reducing estate taxes and providing protection from creditors.
contract drafting for real estate law

Special Needs Trust

Designed to provide for loved ones with disabilities, this trust ensures they receive the necessary care and financial support without jeopardizing government benefits.
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Charitable Remainder Trust

This trust allows you to donate assets to a charity while retaining income from those assets during your lifetime.
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Testamentary Trust

Created within a will, this trust becomes effective after your passing and can specify conditions for asset distribution, such as age or milestones.
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Family Limited Partnership (FLP) and Family Limited Liability Company (LLC)

These entities can be used to manage and distribute family assets, providing asset protection and estate tax benefits.

FAQ: Your Wills & Trusts Queries Answered

What if I want to change my will/trust?

Modifying a will or trust is possible through legal amendments or revisions. Consult our attorneys to ensure changes align with your objectives and adhere to legal requirements.

What if there is no will?

When a person passes away without a will, called intestate, state laws dictate asset distribution, potentially leading to outcomes that do not align with your wishes. Creating a will ensures your intentions are honored.

What forms will I need?

The specific forms required for your estate plan depend on factors such as the type of trust or will you are creating and your unique circumstances. Our attorneys will guide you through the necessary documentation.

Let us help you!

If you need any help, please feel free to contact us. We will get back to you within 1 business day. Or if you are in a hurry, just call us now.

Call : 850-434-9805

info@tidwellassociateslaw.com Mon – Fri 09:00-17:00

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