Wills and Living Trusts WHICH IS BETTER FOR YOU?
Estate planning can be intimidating.
A will does not protect you in the event of incapacity or serious illness. If you have minor children, a will is the only document that allows you to legally appoint a legal guardian for your kids. A will must be executed within the formal requirements prescribed by the specific laws of your state. To make sure your will is effective, it should be prepared and reviewed by a qualified estate planning attorney. Living Trust A living trust is a legal document that allows you to name a trustee to manage and distribute your property for your loved ones. Unlike a will that becomes operative upon death, a living trust becomes effective immediately upon execution. While you are living, the trust property is managed for your benefit. Upon your death, the remaining property is then either managed or distributed to your loved ones in accordance with your wishes. Perhaps the biggest advantage to a
living trust is that it is not subject to probate. Using a living trust also allows the distribution of your estate to remain private, and it typically occurs much sooner and at a lower cost than a will. Parents who desire a fair amount of flexibility over their children’s inheritance may want to consider a living trust. Similarly, affluent clients subject to federal and state estate taxes will want to evaluate the use of a living trust to incorporate taxes into their estate plan. Generally, the formal requirements of executing a living trust are less cumbersome than those for wills. To make sure your living trust is effective, it needs to be prepared and reviewed by an estate planning attorney. If you need help determining whether a will or living trust best fits your circumstances, give KC Estate Works a call at 913-214-1884. We can fulfill all of your estate planning needs.
However, properly conveying your
values, wishes, and experiences to your family and loved ones is a critical component of the estate
planning process. Here are a few general guidelines to help you better understand the difference between wills and living trusts. Last Will and Testament A will is a legal document that the probate court uses when distributing your assets to your loved ones. It is important to remember that a will-based estate
plan will always be subject to probate, and a will only becomes effective upon your death.
ROASTED PARMESAN PESTO POTATOES
Laugh Out Loud
Ingredients
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2 pounds red potatoes, quartered
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Salt and pepper, to taste
2 tablespoons basil pesto
3 tablespoons grated fresh Parmesan cheese
Directions
1. Preheat oven to 400 F. 2. In large bowl, combine potatoes and pesto. Toss to coat. Transfer potatoes to large baking sheet or shallow roasting pan. Season with salt and pepper, to taste. Roast 20 minutes and remove from oven. 3. Sprinkle Parmesan cheese evenly over potatoes and put pan back in the oven. Roast for additional 10–15 minutes or until potatoes are tender and crispy. Remove from oven and serve warm.
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Recipe courtesy of TwoPeasAndTheirPod.com.
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