LAW OFFICE OF KEITH F. ROUSE
WILLS AND TRUSTS
One area of the law that is needed by almost everyone at some point during their lifetime involves Wills and Trusts. Everyone should have a Will. The concept of a Will is very simple. It is written document that provides written instructions to your heirs and beneficiaries how you would like your property distributed after your death. It is important that a Will is properly prepared and witnessed so that in case the Probate Court has to supervise the distribution of your estate, it will be harder for anyone to challenge your written instructions.
A Trust is related to a Will and serves a similar purpose and is most often used so a Court does not have to supervise the distribution of your estate following your death. A Trust also provides written instructions to your heirs and beneficiaries how your property is to be distributed following your death. With a Trust, your property is actually transferred during your lifetime to a Trustee, which can be yourself while you are alive or to a third party. It is the duty of the Trustee or the Successor Trustee to distribute your estate following your death according to the written instructions that are included in your Trust.
There are additional documents that need to be prepared when organizing your estate. The property that you want included in your Trust needs to be actually transferred to your Trust when your Trust is created in order for the Trust to become effective and so the property can actually be included in your Trust.
Everyone should also have a Medical Power of Attorney that designates someone to make medical decisions on your behalf in you are ever unable to so so on your own. A Medical Power of Attorney provides written instructions to your Agent how you would like them to proceed when decisions are made on your behalf regarding your medical care.
For a free consultation about Wills and Trusts Please Call:
Keith F. Rouse, Esq.
A Will does not have to be expensive. The cost of doing a simple Will can range anywhere from $250.00 to $500.00. Most of the times, Wills are not complex and provide basic instructions to your heirs and beneficiaries how your estate is to be distributed following your death.
The cost of doing a Trust depends on the complexity of one's estate. A simple Trust that includes a small estate such as a house and personal property can be completed for as little as $1,000.00 . A more complicated Trust can cost several thousand dollars depending upon the size of the estate and the desires of the party establishing the Trust.
I encourage anyone that needs a Will or Trust to obtain it through an attorney. It is generally not expensive and can be done quickly. Wills and Trusts that are offered through non attorneys are often times ineffective and cost more in the end.