WILLS AND TRUSTS
KNOW THE DIFFERENCE
Wills and trusts are both important for preserving your estate and legacy after you’re gone. However, these two legal arrangements aren’t the same thing. We often hear these two words used interchangeably or have clients ask us which would be better for them.This month, we’re here to set the record straight on the differences between wills and trusts and why they are not mutually exclusive. Wills A will is a legal arrangement that serves several important functions. It is used to designate your children’s legal guardians, details how you want your assets distributed, and allows you to name an executor to oversee this distribution to your beneficiaries. Whether it’s a meticulously typed document or handwritten, for a will to be valid in the state of Ohio, two witnesses who are not named within the will must be present when you endorse it. The important thing to remember with wills is that they are all subject to probate.This court process goes into the public record, determines the validity of the will, considers any objections, and pays any remaining creditors. Probate can take several months.The probate process is even longer if you die without a will.
Trusts A trust is a relationship in which you assign your assets through another legal entity, called a trustee.The trustee can be an individual, a bank, or an attorney, and the trustee is then responsible for transferring your assets to your beneficiaries.This keeps the transfer of your estate private and often avoids the need for probate entirely. Unlike a will, a trust doesn’t allow you to name a chosen guardian for your children, dictate funeral arrangements, or determine who gets personal property items that were not specifically named within the trust. This is why the two arrangements work well hand in hand.Trusts can keep your loved ones out of prolonged probate proceedings, while a will can ensure the minors in your family are looked after and the broad strokes of your last wishes are carried out.
MINT PEA SOUP
With the beautiful spring weather, peas will soon be ripe enough to slip out of their pods. In honor of the season, this recipe pairs peas and pearl onions with mint to make a refreshing soup.
3 pearl onions, diced
1 tablespoon agave nectar
3 tablespoons olive oil
Juice of 1 lemon
6 cups fresh or frozen peas
Salt to taste
5 cups vegetable stock
Pistachios for garnish
3/4 cup fresh mint, plus more for garnish
1. Place pot on stove over
3. Put the mixture in a blender. As you blend, add mint, agave, lemon juice, and salt. 4. Once blended, pour into a bowl, garnish with mint and pistachios, and serve!
medium heat. Add olive oil. Add onions and cook until translucent. 2. Add peas and stock. Cook until
peas are just tender and still bright green. Remove from stove and allow mixture to cool for 5 minutes.
Adapted from mynewroots.org
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