Differences between a will and a trust

The Law Show Is A Weekly Call In Webcast And Radio Show Providing Free Legal Advice On A Variety Of Legal Issues.

Call Now:

Guest: 00:00 Hey, good morning. How are you doing? So I want to make sure I understand the significant difference between a will and a trust. For example, I’m remarried and I have a child, a former child with my previous marriage, and I have one with my current one. Why to make sure everyone’s taken care of and want to do and just don’t understand the differences really with what a trust is.

Justin: 00:26 Yeah. Bill, there’s, there are some differences between there, generally the trust is just something that’s more involved. And if you have, you know, multiple people and depends a lot on your the amount of assets that you have. Really depends on whether you need the will or the trust

Guest: 00:37 The I got, I got a couple of homes. Yeah, I’ve got some assets.

Justin: 00:41 You know, it’s probably better to, you know, sit down and he’ll prly, it and he’s probably gonna tell you to do a trust just because it’s an easier way to divide up the assets and make a crystal clear of what’s going to go on. Because what we often see, as, you know, I don’t even do this kind of work, but I see the people who come in and you know, it can destroy a family if it’s not all laid out properly of who gets what, where it goes, and have the property divided up in order to avoid a probate. That’s what you’re really trying to do is, you know, avoid the probate and make sure that your wishes, you know, get carried out. Right? That’s what we really want. Right?

Guest: 01:11 Right.

Justin: 01:12 So if you give me a call on Monday, the same number, eight, five, five law show, give me a call on Monday and I will get you to someone who can set up a trust for you. Okay.