Deciding whether to utilize a will or trust can be a difficult process. Proper estate planning requires experience and dedication to ensure the best possible results, which is exactly what Woodlawn Law Offices provides to clients all over O’Fallon. For 25 years, this law firm has been committed to putting the needs of their clients first. Whether you need help with sensitive family law issues or are in search of assistance in taking care of important financial matters, the law firm is prepared to help with your case.

Wills are the go-to choice for many creating estate plans. However, these documents are associated with a few drawbacks. While wills are relatively easy and inexpensive to create, they can also entail quite a bit of hassle, especially if your will is contested. 

Wills often have to go through probate, which is the process of proving a will is valid in court, along with ensuring that outstanding debts are paid, assets are valued correctly, etc. Wills also require the payment of estate taxes, which can become quite expensive (thereby negating the low-cost associated with will creation).

Trusts are another option available to those who are considering estate planning. In this case, you must name a trustee that will act on your behalf once you are deceased, and this person will then distribute your assets (which are placed into the trust by you) to chosen beneficiaries upon your death. 

Trusts are often more efficient than wills, in that you can set parameters on how your assets are doled out (i.e. creating a specific timeline for assets to be dispersed), and they typically do not incur the same tax obligations as wills. Trusts do have their own complications, however. Selecting a worthy trustee can be difficult, and you will ultimately be responsible for managing your assets until the time of your death.

In addition to estate planning in O’Fallon, Woodlawn Law Offices also offers assistance in many other practice areas, from social security disability claims to DWIs. Schedule your consultation with a skilled lawyer today by calling (636) 240-6667, or visit the website to learn more about the difference individualized service can make for you.