Since 1889, Pater, Pater & Halverson Co. has been seeing to it that their clients have access to the best estate planning services in the greater Hamilton, OH. Wills and trusts, after all, are vitally important documents, and they should always be drawn up under the guidance of a knowledgeable legal professional who understands all their potential ramifications.

How do you know when a will is a better option than a trust? First of all, it's important to know what a will is, and what it actually does. A will is a document that dictates how you want your assets distributed after you pass away, allowing you to name an executor to carry out your instructions. Wills also allow you to name a guardian for your children, in the event that you pass before they come of age.

A trust, on the other hand, is a process that allows you to appoint an individual—otherwise known as a “trustee”—to personally hold onto property or assets you intend to leave to another party. You can specify when you want your beneficiary to receive said assets, of course. But a key thing to consider is that you cannot appoint a guardian for your children in a trust—which means that if you have heirs, a will is a must-have.

A will is also generally a better option if you have children who are of age, and who can manage whatever you choose to bequeath to them without the aid of a trustee. It’s also advisable to have a will if you’re under 60 and healthy, and can make adjustments to the will—if necessary or desired—as you go along.

The truth is that trusts aren’t necessary at all, in some cases. Moreover, since setting them up is a complicated and often highly expensive process, it's in your best interest to know exactly what's right (or not right) for you; and the best way to determine that is to consult a skilled and trusted attorney.

To find out more, contact Pater, Pater & Halverson Co. at (513) 867-1411. Where there's a "will," there's a way, and the sooner you get your estate organized, the sooner you can live life happy in the knowledge that all your bases are covered. So call today!