CASE LAW FIRM LEGAL INSIGHTS
Is it Better to Have a Trust or a Will?
Posted on June 12, 2017 by Case Law Firm
The simple answer is that either one will do, depending on your specific circumstances.
The key is to have some form of estate plan. It is essential to have a trust or a will, or a combination of both. Your particular estate plan will depend upon your marital status, your plans for your heirs, and the extent of your estate. If you fail to establish an estate plan, you are assigning your wealth to the government to distribute for you according to its terms.
For example, if you die leaving behind your spouse and your parents and you have no estate plan, your spouse will inherit the first $100,000 of your intestate property and three-qu...