For too many people, the prospects of planning for an illness or a loved one’s death is simply too unpleasant to discuss. Consequently, these plans are often delayed and this procrastination can result in significant and unnecessary costs, family feuds, vicious legal battles, and costly estate taxes.

These are the primary reasons to have updated wills and trusts – so that they can make the decision on how their finances, real estate, and other assets should be distributed. These can be complex legal and financial documents.

• A will is a document that details who will get what from your estate after your passing. Without a will, the state will make these decisions in a costly process call probate.
• A revocable trust is a trust whereby provisions can be altered by the maker of the trust. This can be the last great gift you give to your loved ones. While living income earned is distributed to the grantor, and only after death does property transfer to the beneficiaries. This is a great way to avoid the difficulties and high costs of probate.